But why is that finex whale making it so obvious he's selling so much?
There's some kind of "fuckery" going on there today. Another whale has completely crashed the BTC swap rates by posting 4k (3k & 1K) at about a hundrerth of the recent level. As if begging bears to take more shorts...
It's not a Finex whale. It's finex. They buy on Bitstamp where it's lower volume but high influence, push the price beyond finex to get the sheep to buyl the walls on finex and get shorters to close or to get margin calls if they can.
It's pretty obvious. They will go as high as they can before the natural price resumes and the price crashes.
They have all the data on what possitions are held and can thake calculated risks on how high they can pump the price an other exchanges will follow before a crash. But it will crash hard sooner or later.
You are making decent points here, jonoiv, except for what seems to me to be a kind of embedded drama in your characterization style...
In other words, your "crash hard" word choice seems to imply a kind of unnecessary doom and gloom, when in reality we are really just anticipating BTC market realities, no?
Don't we regularly get 30% or more price corrections with bitcoin, and even if such a correction might go AS BIG AS 50%, then isn't that just within a "normal" kind of expectation within bitcoin? In other words, why you choose to use so much drama in your word choices?
By the way, I am going to be shocked as fuck if BTC prices go above $10k before experiencing our expected 30% plus price correction, but I am NOT going to proclaim that such outrageous BTC price performance is some kind of abnormality, but instead that the BTC price has shot beyond any reasonable expectations, which frequently (historical past practice) is what bitcoin has done.. to punish the fuck out of peeps betting in the opposite direction of the momentum.