@WhaleInsider Great asymmetric hedge for a perp long here. Small premium, decent downside protection. Prediction markets are underrated for this kind of setup
I still think my thesis holds and that the bottom is already in. We're simply shaking out the weakest hands that entered positions since February.
The market always moves slowly. People generally think and expect the market to react quickly right after they enter a position. Most of the time, in a bear market, it doesn't work like that.
The market will always wear the weakest hands down, exhausting them little by little. The risk is still there, but for now I don't see any signs that the situation is getting worse.
Stay safe.