mvb317

mvb317

For the past month, BTCUSDLongs, BTS-USD, and SPY have traded with near perfect correlation -- that is, until this morning. Longs are rising while BTC and equities are fumbling. Will equities and BTC follow Longs? I think so.

mvb317

Appears that the rapid drop can be attributed to BTCUSDLONGS closing out. Almost looks like it could've been a single account, or small handful of accounts.

mvb317

I previously commented on someone else's charts that a large player was selling BTC to buy longs and would settle or close them as the market rose. This chart shows that playing out to a T. I am curious whether they are closing or settling. Based on the way BTCUSDLONGS dribbles off between large moves, I think they are probably closing as a market-maker....