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#BuyTheDipOrWaitNow?
Bullish whale opens a long position on #ETH for $80M Is it wise to use 20x leverage today? 20x leverage on $ETH today? You're essentially dancing on a mine. 💣
We just saw Trend Research lose $680 million trying to protect their Aave loans when ETH hit $1750 last week.
Funding rates have finally turned negative, which is usually a signal of a "bottom," but considering that $15 billion in total leverage has already been wiped out this month, liquidity is extremely low.
A 2% dip could liquidate this 20x capital even before the "mega-bull" rally begins. I remain in this position until we recover to $2200 through trading volume.