News for hackers. Stuff that matters.

A comment on Bitcoin Sinks to $41,000 Amid ‘Extreme Fear’. Parent comment

Re:Bitcoin Sinks to $41,000 Amid ‘Extreme Fear’ by mccorrinall on Friday January 07, 2022 @09:08AM (#29839236)
Pretty sure that most “whales” are net short like every other trader.
[ Parent | on HN ]
Re:Bitcoin Sinks to $41,000 Amid ‘Extreme Fear’ by jqpabc123 on Friday January 07, 2022 @11:33AM (#29841157)
What makes you so sure about that? This could all be the result of whales cashing out of crypto and into fiat.

In other words, this could simply be the "dump" phase of the recurring "pump and dump" scam.

[ Parent | on HN ]
Re:Bitcoin Sinks to $41,000 Amid ‘Extreme Fear’ by mccorrinall on Friday January 07, 2022 @09:20PM (#29847915)
That’s exactly what I said. Most traders currently sit on cash to meet the margin requirements for short selling crypto assets.
[ Parent | on HN ]