Cruci₿le (🤝,🤝)

₿ullish | NFTs are ownership | DeFi is growth
Community holds us together and magnifies us (🤝,🤝)

[Cruci₿le (🤝,🤝) @cryptocrucible]

@quantFroze @BitBoyJay @breakroom

[Cruci₿le (🤝,🤝) @cryptocrucible]

@BitBoyJay I couldn’t make it past Nad not readying up. Classic Nad…

[Cruci₿le (🤝,🤝) @cryptocrucible]

@OptionsBuffett Trade

[Cruci₿le (🤝,🤝) @cryptocrucible]

Don’t get psyched out. Bottom #BTC

[Cruci₿le (🤝,🤝) @cryptocrucible]

@lhouket $PNKSTR looking so juicy with a 2x to ATH

Commence higher after that...

[Cruci₿le (🤝,🤝) @cryptocrucible]

@Johnath29021939 @PeterLBrandt LINK and ETH are fairly well correlated. If ETH higher, LINK looks good

[Zaheer @zaheerebtikar]

When the market turns like this, there’s usually a pretty straightforward playbook for the aftermath.

1) Market bleeds out and MMs are offline and start refilling by first taking out big spot and perp arbs on assets.

2) Once exchanges and API feeds are back online, market makers and big traders start biting on big orders to bring the market back to equilibrium.

This is met with liquidation orders being processed. Liquidation orders are processed at the top of the exchange order queue so it’s very juicy to pick off if you have balance sheet.

Given the size of this liquidation (~$25-$40bn) it will take a while to chew through this.

3) Once dealers fill long they will start unwinding spot and perp when the market is back to equilibrium. This is when the market hits a local maxima and the Dalai Lama chart starts hitting.

Some assets that have tighter supply will look better than others.

4) Dealers unwind over the next 24-72 hours depending on the liquidations and the market absorption. This is generally harder on weekends because no ETFs.

5) Market finds a natural floor and ceiling and starts a new anchor

Note: this is assuming that the market’s headline risk has mostly subsided. In the case this isn’t true, there is a lot more room for pain depending on leverage ratios.

This is a trader’s market for the time being.

Good luck and good night 💤

[Cruci₿le (🤝,🤝) @cryptocrucible]

@SplitCapital Great post, appreciate it

[Cruci₿le (🤝,🤝) @cryptocrucible]

@Tradermayne Great stream, was a great listen while zenning out in the sauna, reflecting on the day

I hope people take your advice to touch grass and reset

[Cruci₿le (🤝,🤝) @cryptocrucible]

“Aster has 1001x leverage”
-Everyone in crypto groups with 5 trades worth of experience

[Coin Bureau @coinbureau]

🚨BREAKING: Crypto liquidations soar to $9.4 BILLION in 24 hours – the LARGEST single-day event ever.

Bigger than LUNA. Bigger than COVID. Bigger than FTX.

We just witnessed history.

[Benjamin Cowen @benjamincowen]

Ethereum has now dropped 30% and is at its bull market support band.

I think ETH can now rally to new all time highs.

[Cruci₿le (🤝,🤝) @cryptocrucible]

You can thank all the new perp DEXes and the incredibly inexperienced traders who don’t even know what margin ratio is

[kook 🏝️ @KookCapitalLLC]

today was the top liquidation event in crypto history

[Cruci₿le (🤝,🤝) @cryptocrucible]

@BitBoyJay @NealKharawala I was locked in a god damn conference room

[Cruci₿le (🤝,🤝) @cryptocrucible]

@duonine It’s going up forever, Laura.
FOREVER

[Cruci₿le (🤝,🤝) @cryptocrucible]

@BitBoyJay @addicteddotfun Watching LOTI Narcos from the sidelines and cheering you boys on. Godspeed brothers 🫡

[Cruci₿le (🤝,🤝) @cryptocrucible]

@BitBoyJay ETF vibes

[Cruci₿le (🤝,🤝) @cryptocrucible]

@Frozennnnn_ @BLASTPremier @NFL You and me both. Multi-screen FTW, but I know where my eyes are

[Cruci₿le (🤝,🤝) @cryptocrucible]

@NadesOutHere This is a little tricky lineup wise. It’s a W+jump throw and has to be really exact. Great nade tho if you can get it

[Cruci₿le (🤝,🤝) @cryptocrucible]

@Innerdevcrypto I need you to do some deep inner work and talk even dirtier to me next time