Right now there is $240,000,000 worth of leveraged longs on just one broker.
Imagine this scenario..
Big bag holders / brokers are loading up just as many short contracts as there is long contracts. They unload their coins. Price drops. Over leveraged longs begin to margin call / liquidate. Price drops. Mass liquidation happen and the crypto market tanks again. They close short contracts, cash in on the $240,000,000. Buy all their coins back for cheap.
Yep.
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I have been short Bitcoin since June when the price topped out at $13,700 USD which was exactly $20,000 AUD so I could not resist the urge to close my longs and open shorts. Since then I have been shorting every week watching the long contracts build up. Right now I want the arse to collapse and I am positioned perfectly for it.