Jamesvanst

More tin foil hat theory.
Morgan Stanley were among the main beneficiaries of the bitcoin correction through the structure of the IBIT note.
MS collects structuring and distribution fees at issuance. As prices fell, the probability of early autocall declined, extending the life of the note and allowing MS to earn additional carry and hedging related income.
The important part is: once IBIT fell more than roughly 25% and breached the downside barrier, losses were transferred to note holders.
From that point on, investors absorbed losses one for one as prices continued to fall. Further drawdow

If Bitcoin were doing what silver is currently doing, I would be 100% confident in a 70% drawdown.

The best investments over the past 2 decades have been non-cash flowing assets.

sell btc buy gold

The IBIT gap closed immediately as the market opened.
New Bitcoin futures toys for Wall Street.

History suggests that once silver experiences a blow-off top, at least a 50% correction follows (1980 and 2011).
Unless this time is different? New world order?
This metals rally like all rally's is momentum-driven, which accelerated the day risk assets put in its bottom.
At some point the money flows back. The most irrational times are at the top.

If BTC holds or grinds higher into tomorrow's expiry, $88k, $89k, more calls expire ITM.
This reduces dealer short-gamma hedging, essentially the cap on upside eases into expiry.

Feels weird not staring at charts

At $87,500, Bitcoin is sitting exactly in the middle of the $85,000 put gamma wall and the $90,000 call gamma wall.

If the market was pricing in near-term risk for EOY options for bitcoin the implied volatility wouldn't be sitting near three-month lows.

Never listen to anyone who says not to invest in an asset class that's too big.
Gold's market cap has increased by $13T
Silver's market cap has increased by $1.6T
Price is set at the margin.

The worst Q4 for Bitcoin in 7 years.
Bitcoin went onto appreciate 170% over the following two quarters.