$JCT A shocking “death scythe”! After a frenzy of 7.7 million, are the big players about to reverse and wipe out longs?
The frenzy at the center of the storm is often the calm before the scythe falls!
View and analysis: The data shows money pouring in, with the whale long/short ratio reaching 505%. Earlier, shorts were indeed aggressively liquidated for 6.17 million. But note that after a death cross at the highs on the 1-hour chart, the price has drifted down on declining volume, while the funding rate has surged to 1050%! Longs are extremely crowded.
After liquidating the shorts, the big