https://www.coinglass.com/BitfinexMargin
Over 100k Bitcoins on Bitfinex are on margin.
HOLY SHIT!!!!
only 4k shorts on margin.
RETAIL IS ALWAYS WRONG!
Maybe lower, because there will be no trust left, the retarded rainbow charts and double charts and S2F and all that bullshit will show they are scam shit.
Maybe we see 5k Bitcoin. Depending on what saylor and other super whales are doing.
And that's interesting. If we see a massive bitcoin value drop, it would be good for crypto in a long run.
Crypto is not bitcoin and vice versa.
A market that not 100% depend on bitcoin would be a 100x healthier market.
The decline of bitcoin dominance increased from cycle to cycle. Maybe that's the cycle Bitcoin will be one of many cryptos. Sure it will not go to zero and maybe stay at rank 1.
But it is a difference Bitcoin has 50% domination or 10% or even 5% ( what is a lot if we think 1 other asset class would be 5% or 10% of a sector).
Yes everything will be connected, but not anymore 1 to 1.
Good for quality coins, bad for meme coins, those coins need the connection as a leverage effect.
I know many think " we never go to 10k again". We see! Depending on the macro market i think 6k-8k would be not impossible.
For sure all FUD and no financial advice.