The forecasts against bitcoin
-Holder microstrategy (Mstr) It seems to have run out of patience and bearish bets are coming out.
On Monday, a US -listed fund listed in the US (ETF) It provides a leveraged bearish exposure to the Bitcoin Holder Microstrategy shares that have sinks to life that lows behind the trading activity near the record.
Prices for Defiance Daily Target 2x Short Mstr ETF, listed under Ticker SMST in NasdaQ, slipped 7.58% to $ 18.17 on Monday, pressing a record low for fourth consecutive days, according to Data Source TradingView.
The decline occurred as 2.88 million shares changed hands, the second largest largest trading trading volume.
Bears submit as BTC surges
High-volumes falling SMST points in the bear capitulation-the estimates against the MSTR are likely to surrender and exit the market.
A high volume of low record usually indicates capitulation-market participants who surrendered to the bearish incessant trend and the release of all their positions, giving all the hope of a recovery. This type of price action often marks peak bearnishness on the market or bottom.
The price of Bitcoin has tapped a high record of over $ 122,000 in Monday’s Asian trading hours, giving bullish cues all things tied to crypto. Later during the day, the MSTR shares rose by more than 3% to $ 456, the highest since November.
Leveraged Bearish Bet
The 2x short ETF aims to deliver sun -day -to -200%, or minus 2x, the sun -day percentage change in MSTR sharing price. In other words, this is a leveraged bearish bet.
The ETF price, however, collapsed from more than $ 2,000 on the beginning of August of last year, and mainly a downtrend, prohibiting the short -lived from $ 1,600 to $ 2,368 in late August of last year. Like Friday, the fund had a net inflow of $ 8.2 million in six months, According to Vettafi.
The MSTR sharing price increased multi-fold from $ 100 to over $ 440 at the same time. Microstrategy is the largest holder listed in public in the world, boasting a coin stash of 601,550 btc ($ 70.56 million) Like writing.
2x long mstr etf rises
The Defiance Daily Target 2x Long Mstr ETF rose to nearly $ 50 on Monday, the highest since January 24, with trade volumes rising for the fourth straight day to tally 9.2 million.
Like Friday, the MSTX has a net six-month flow of more than $ 175 million, For the summit.
Read more: Anti-Bitcoin Vanguard may be the largest institution holder of MSTR Stock
