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JUST IN: The BTC whale reshorted 1,423 BTC ($161M).
hypurrscan.io/address/0xb317…
MLM@mlmabc
In case you didn’t know - the BTC whale closed 90% of his BTC short and fully closed his ETH short, making around $190–$200M profit in just one day on Hyperliquid. The crazy part is that he shorted another 9 figs worth of BTC and ETH minutes before the cascade happened. And this was just publicly on Hyperliquid imagine what he did on CEXs or elsewhere. I’m pretty sure this guy played a huge role in what happened today. hypurrscan.io/address/0xb317… hypurrscan.io/address/0x2ea1…
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Alright lads.... I have been geeking out on the numbers with Claude the last few days and have come to an interesting theory...
Which is that the idea that the 2021 bull market in crypto and stonks was caused by 'stimmy checks' and 'everyone having extra time to trade' is a MYTH...
And that it was instead almost solely the result of record low interest rates allowing Americans/etc to access unprecedented amounts of home equity, via both cash-out refinances and home sales.
All this equity was basically redirected into a) more real estate, b) stocks, and c) crypto - and pumped all three to record numbers.
Obviously low interest rates in general had a stimulative effect, but I think it was very much that one variable - homeowners accessing untapped equity- that was the driver of the asset bubble we witnessed.
That was- of course- before inflation spiked and Powell hiked rates to infinity and the party abruptly ended.
Here's the thing though...
There's VASTLY more untapped equity in American homes today than there was going into 2021.
$36T worth, according to the best numbers I can come up with with Claude. Enough to buy all the crypto in existence almost ten times over.
And that equity has been completely frozen for three years.
However it is going to thaw in a little over 6 months from now, when Trump and Bessent succeed in lowering rates, and JPow finally departs into sweet sweet boomer retirement...
And when that happens I think it is going to usher in a bull market...
A bull market of absolutely biblical proportions...


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