@onchainquant Regulations are not problem, you really thing coinbase would partner with them if they think hyperliquid will downtrend because of regulations..
There is currently a confluence of factors driving downward pressure in $HYPE prices short-term. I believe we give back this entire more and more.
This week we saw a massive surge of 2.74MM HYPE ($112MM USD) open interest driven (1) Circle and Coinbase bullish news and (2) spotlight surrounding the Ceberas price discovery into the IPO. While both news are fundamentally bullish, longs got a little ahead of themselves and many are now caught in an awkward position. HYPE touched $47 and late longs started to pile in..
Wind has gone out of its sail now in BTC with STRC reaching ex-dividend in what has been a lacklustre bitcoin buying window. The concerns regarding regulatory scrutiny is going to hit bulls like a freight train. Those concerns are valid and if anything being downplayed.
Jeff spending massively on lobbying and travelling to Washington is proof that regulatory pressure is not only real but a significant threat moving forward.
Even more concerning, market barely paying attention to the humongous unstaking queue ahead. The queue over the next six days have reached a cumulative $133MM USD and more
I now expect OI to unwind to levels seen pre-bullish circle/coinbase. This translates into selling pressure with a target of $37$-$38.
Credit to @alex_hunter20 for the unlock screeny from @Hyperviewapp
Shawn Liu is the Bitget big boss who allows these scams to operate behind the scenes while Gracy Chen is only the face of it.
The Chinese CEX cartel has gone unchallenged for years and doesn’t care as long as they benefit from the activity.
I think it is almost time to increase public attacks against Bitget.
Bitget's second largest holding on their POR?
$LAB at $1.3B
If $LAB does another 2x, it will be the main reserve asset on the exchange - larger than BTC
🤡
coinbase is worse than ftx
instead of stealing your funds, they weaponize incompetence by having non technical teams ship production code leading to downtime and inevitable security breaches
you should get your funds off both coinbase and base, as soon as they are online again
There has not been a BTC trade on @Coinbase in more than an hour
The last 1 minute candle is from 75 minutes ago
The orderbook is currently displaying prices hundreds of dollars above Binance & Hyperliquid
My orders fail to go through on both web & mobile, both advanced & simple trading
Guess those 14% of employees they just laid off might have been crucial?
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