Looks like DXY down is not boosting the number one debasement trade according to many, long Bitcoin.
As we have been pointing out for a week now, Bitcoin has delivered no returns/losses for the long crowd lately and tons of volatility. This is not what people like. The parabolic trend has got many greedy, and a story that did receive little attention was MSTR's plans to raise $400mn to buy more Bitcoin.
If it was that easy, guess everybody would do it…
Anyway, the last batch MSTR bought last week is down some $3.5mn here. As we wrote over the weekend:
"…but you have to master managing risk, ie what is your plan of action if the trade goes further up, or starts moving lower?"
BTC has a steep trend right here, next levels if it breaks below is the 50 day at 16200. 200 day moving is down at 11900.
There is nothing wrong with volatility, but you need to know how to manage it…