Back in the day when I used to trade, I remember in the oil & gas chat there was this real OG who had quite a lot of funny stories about his job. It was the year 2017 and BTC was in a raging bull market, everyone and their aunts were jumping on the "crypto" craze, I confess I even had some shitcoins back then, it was so bubbly. By the end of the year the first BTC futures were introduced on the CBOE, and this OG said casually in the chat "I remember back in the 90's when gas futures were introduced, the market tanked soon after". He was this good ol'fella who liked to share his knowledge and it struck me because that's exactly what happened in December 2017 for the BTC market.
Many people think the ETF will bring institutional money and price will rise, it could very well be the opposite and open the door to short the hell out of it.
Hold your (SN) hats this will be fun!
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21 sats \ 0 replies \ @ek 16 Jun 2023
"Buy the rumor, sell the news"
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21 sats \ 0 replies \ @DarthCoin 16 Jun 2023
All ETF are a scam
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21 sats \ 0 replies \ @birdeye21 16 Jun 2023
if it's a spot etf, they won't be able to use it to short. They approved the first futures bitcoin ETF at the top of the market december 2021
https://www.bis.org/publ/qtrpdf/r_qt2112t.htm
all that shorting's happened
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