Altcoin Trading in Late 2023
--Find low market cap, low volume, low liquidity coin with a perp listing (ideally team is desperate and/or price is rekt so you can get coins for cheaper)
--Corner spot supply (makes it harder for other parties to arb and MM generally as there's little inventory available)
--Pump spot, can lift the perp as well
--Spot trading significantly above perp = negative funding (can't arb via sell spot/buy perp if there's little spot inventory available, teehee)
--100 IQ perp tourist: omg negative funding, shorts are gonna get squeezed (wrong - the negative funding is primarily caused by aggressive spot buying, not aggressive perp selling)
--100 IQ tourists pile in long for the 'short squeeze' trade (illusory) + to collect funding from being long
--Price keeps going up: arbers are AFK because not enough spot inventory, 100 IQ tourists baited into 'short squeeze', trade as fresh longs, naked shorts get squeezed by momentum and/or lack of desire to pay maximum negative funding every period for holding the short
--Time to cash it in: short perps (funding doesn't matter since you 'make' the top), dump spot
--Rinse and repeat
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The notorious #BTC buy wall moved AGAIN!
It appears they are trying to push price into their own asks. If they can attract enough buyers to clear $25k there's little friction to $26k and thin air to $30k.
No clue how long they can do this. Happy to play along. #RiskManagement.
JUST IN: Another train has DERAILED in #Michigan that was carrying hazardous materials.
What is going on? This seems like a coordinated attack on our railway system across the country.
I’ve noticed it’s in key battleground election states too.
Ohio, Arizona, Michigan, Texas.
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@cryptocomcs I'm already working with support. Nothing much has been done except asking me to be patient. It's not a small sum, and I need the money urgently to repay my loans. @kris, what's going on? We weren't notified of the change.