yippie

[yippie @Yippun]

If USD 5k worth of tokens was all it took for a KoL to sell their souls, you need to re-think whether they are real content creators or audience farmers.

https://t.co/x7tua4A9PW

[VietnamPenguin @VietnamPenguin]

Here are the @TroveMarkets badge holders (some have since been removed).
These “gentlemen” (apparently for money and with minimal due diligence) were promoting this project for Hyperliquid community.

[yippie @Yippun]

Using locked spot tokens for basis trades.

One way to liquidation.

[PiggyBank @piggybank_fi]

Dear Community,

- One month ago, PiggyBank got into a new position for $100k (~2% of the portfolio at the time), as part of the strategy’s scope of deploying into mid-cap basis trades.

- The strategy involved purchasing locked $LAB tokens at a significant discount through a Tier-1 OTC desk and hedging that exposure through perpetual shorts. During the holding period, $LAB experienced violent manipulation, including chaotic price movements on thin liquidity, and deeply negative funding rates.

- Maintaining the hedge became economically irrational and would have caused us to cross our risk thresholds. We therefore decided to close our short to cap the downside.

- In accounting terms, the total value of our $LAB locked position is $1.35m at current prices. However, due to the illiquid nature of this position, Piggybank is excluding it from the NAV until the first unlock on August 14. Even though this is an evolving situation that could still generate substantial returns, this is the fairest and most transparent way to let users manage their liquidity.

- Accordingly, today’s NAV will show a ~15% drawdown on the USDC vault, ~12% on SPYx and ~9% on JitoSOL.

- A detailed report will be published next week with next steps.

[yippie @Yippun]

This @vaneck_us guy called Hyperliquid an Arbitrum L2.

[Coin Bureau @coinbureau]

🚨LATEST: VANECK HEAD OF RESEARCH ON HIS OUTLOOK

"If we look forward six months to a year eventually capital will rotate back to crypto with real utility.”

“Q4 looks to us like a time when you want to have a full position."

[yippie @Yippun]

@DThomasStealth It won't recover until the next adjustment of interest

[yippie @Yippun]

@hansolar21

[yippie @Yippun]

@diapsalmata_0x Weekend liquidity is poor so better to ignore entirely. Probably see another round of panic from Asia markets when market opens on Monday

[yippie @Yippun]

@MattMematic They have to. Otherwise they are fucked.

They just have to liquidate a little and resume the ponzi fundraising game.

[yippie @Yippun]

Agreed with the need for MSTR to sell huge amount to ease the market. Something like 1 bn should suffice imo. That would add another 7 months of cash flow to let users feel less worried. Stabilise btc prices and continue using ATM issuance to maintain the >12 months runway.

4-5bn is too excessive, and I don't think the sell off was them (more likely market reaction).

Hope they sell off next week. It's their final window imo.

[Jeff Dorman @jdorman81]

Only one scenario saves bitcoin:native and $MSTR in the short-term.

Saylor has to come out and say (via Monday's 8K, or next Monday's 8K):

"I sold $4 bn of MSTR and BTC... we now have 2.5 years before we have to raise money again... dividends are covered for 2+ years, debt doesn't mature til sept 2028 (puttable in 2027) and that's easy to refinance via more converts".

If he does that, the market rips, and might even rip 20-30%. It once again makes MSTR uninteresting for years, but that's a good thing. STRC probably goes back close to $100, but he won't be able to sell more. And while capital markets might be closed to MSTR for awhile, it at least buys a ton of time, and in that time who knows what other catalysts might pop up.

He should have done this last week instead of that misguided $2.5mm teaser sale.

If he doesn't, and he continues to just wait it out (only has 5 months), or he sells tiny amounts as he goes (just enough to pay each monthly dividend), this selling won't stop

[yippie @Yippun]

@DThomasStealth If MSTR wants to adjust interest rate that will be ~19% yield.

With their current cash that's like 4+ months of cash before they run out entirely. I simply cannot see a scenario where they 1) not default on STRC or 2) sell btc

[yippie @Yippun]

@DThomasStealth Options Gamma seems to support a fast hedge below 59k. Think we will see 50k faster than we see 70k.

[hansolar @hansolar21]

This is a really impressive tool built by @derivativemonky for options traders
https://t.co/HunPO4kYpa

GEX profile indicating we maybe bottom around 60k?

[yippie @Yippun]

Solid share by @hansolar21 on options positioning.

Put wall on 59k for BTC. If we do hit below 59k, option dealers will be forced to hedge their gamma by selling... ALOT.

Looking at timeline and upcoming events (FOMC, BOJ etc). I would target <50k BTC next week.

[hansolar @hansolar21]

This is a really impressive tool built by @derivativemonky for options traders
https://t.co/HunPO4kYpa

GEX profile indicating we maybe bottom around 60k?

[yippie @Yippun]

@hansolar21 @derivativemonky If prices move below the put wall i believe dealers would need to hedge the negative gamma by selling more futures?

@satoshiheist probably an expert in this - care to weigh?

[yippie @Yippun]

People are assuming @Strategy can adjust rates up STRC back to par.

People also forget during credit crises, no matter how high your rates are no one wants it.

Private markets slowing down means liquidity is drying up. Retail on public tends to lag but eventually catches up.

[yippie @Yippun]

@testdumbass Hmm... I would like to see a proper lower low on BTC or retracement higher before thinking of alts.

I think we are in a mini alts szn but BTC overhang will likely hit those forced liquidations

[yippie @Yippun]

Ngl, reminds me of 2023. Awfully quiet and low volumes, barely any bidding pressure.

[qwan @qwanthl]

Looking at the flows it is quite obivous what is leading current pullback.

Overleveraged longs being opened at the top are now forced to close, spot is chilling from the flow side for now.

To me this looks like a healthy PA going into summer for a decent range to form here.

If we range don't forget to bid, and play the momentum game.

[yippie @Yippun]

@DThomasStealth @CJ_Bitcoin Dump their BTC at below purchase price or issue more ATM equity and dilute common equity holders.

No two ways out.

[yippie @Yippun]

@edward_yu_var Drift did pretty well - they lost user funds through North Korea.

[yippie @Yippun]

@kamu_miso

[yippie @Yippun]

@satoshiheist Market is still too bullish for what's the come imo