Leverage ramped up and market markers took this opportunity to wipe out a few over leveraged LONGS.
Let's continue the up trend please.
$BTC

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Author | Jeff Park (Chief Information Officer, Bitwise)
Compiled by Odaily Odaily(@OdailyChina)
Translator | Dingdang (@XiaMiPP)
Editor's Note: On February 5th, the cryptocurrency market experienced another sharp drop, with over $2.6 billion liquidated in 24 hours. Bitcoin briefly plummeted to $60,000, but the market seems to lack a clear consensus on the causes of this decline. Jeff Park, CIO of Bitwise, offers a new analytical framework from the perspective of options and hedging mechanisms. [...]

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Over leveraged traders getting humbled again
when will they learn

sending positive vibes your way ✨ the pressure may be heavy, but your resilience shines through day by day 💪