Even former Bitmex CEO Arthur Hayes is shorting the market - says he's getting out of Bitcoin as spot, perpetuals and options point to more consolidation for #bitcoin below $40K.

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There are no reasons to see a v-shaped bullish reversal anytime soon: Bitcoin is under its year to date price, Grayscale continues to offload 10 - 15K of BTC each day, the Coinbase Premium remains elevated, and there are few signs that fresh demand has entered from TradFI.

Add to that, altcoins, including #ETH and #SOL, are just starting to correct. If the #DXY rises above $103, prepare for more nasty sell off.

The best time to take profit was 2 weeks ago. Now is the time to wait for a better entry (the 100 or 200 SMA).

Chapters:

00:00:00 Bears Fighting the BTC Plunge Protection Team

00:06:59 Still Waiting for the BTC Liquidation Event

00:12:01 Is ETF Rotation Driving the Sell-Off?

00:16:47 Coinbase Premium: Signaling a Sell-Off

00:19:45 Options Hedging Under $40K

00:23:10 Whales Still Accumulating

00:24:30 How Long Will the Sell Off Last?

00:30:15 Do the CME Gaps Signal Alpha?

00:32:40 DXY Remains a Risk for the Market

00:39:30 Altcoins and ETH Bid Zone Approaching

00:43:30 Sophisticated Traders ARE IN the Market

00:47:30 Why Arthur Hayes Got Out (for now)

00:49:01 Trade Ideas

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