Those who bet against Bitcoin
-Centual Microstrategia (Mstr) It seems that he has run out of patience and seems to be dating bassists.
On Monday, a background quoted in the stock market in the United States (ETF) That provides an aired bearish exposure to the actions of the head of Bitcoin Microstrategy sank at least for life in the back of the almost record commercial activity.
Prices for the Daily Target of Defiance 2x Short Mstr ETF, listed under the SMST ticket in Nasdaq, fell 7.58% to $ 18.17 on Monday, reaching a low record for the fourth consecutive day, according to the commercial vision of the data source.
The decrease occurred when 2.88 million shares changed hands, the second largest negotiation volume.
Capitulated bears as BTC overcomes
The high volume collapse of SMST points to the capitulation of the bears: those who bet against Mstr have probably renounced and are leaving the market.
A high volume record typically indicates capitulation: market participants surrender to the relentless bearish trend and leave all their positions, renouncing all hope of a recovery. This type of price action often marks its maximum in the market or at the bottom.
The price of Bitcoin took advantage of the records exceeding $ 122,000 during Monday’s Asian negotiation hours, providing bullish signals to all things linked to cryptography. Later in the day, Mstr’s shares increased more than 3% to $ 456, the highest since November.
Bet down
The SHORT 2X ETF seeks to deliver daily investment results that are -200%, or less 2x, the daily percentage change in the price of MSTR shares. In other words, it is a low bet.
However, the price of ETF has collapsed more than $ 2,000 on the start day in August last year, and has been mainly in a bearish trend, except for the brief upward trend of $ 1,600 to $ 2,368 at the end of August last year. Until Friday, the fund had a net ticket of $ 8.2 million in six months, according to Vettafi.
The price of MSTR shares has increased multiple times from $ 100 to more than $ 440 during the same time. Microstrategy is the owner of Bitcoin in the world’s public list, with a coin stash of 601,550 BTC ($ 70.56 million) from writing.
2x long mstr ETF increases
The Daily Daily Target of Defiance 2x Long Mstr ETF increased to almost $ 50 on Monday, the highest since January 24, with commercial volumes by increasing for the fourth consecutive day to count 9.2 million.
Until Friday, MSTX had a six -month net exit of more than $ 175 million, by Vettafi.
Read more: Anti-Bitcoin Vanguard could be the largest institutional holder of Mstock
