After the cascade to $42,000, it’s likely that bears will show themselves to be „stoneless,” says popular analyst Light.
Bitcoin (BTC) bears will probably be too „stoneless” to keep prices down much longer, fresh BTC price analysis argues.In a Twitter series published Dec. 18, popular account Light summarized the events which led to Bitcoin’s recent 39% correction.Sheep in bear’s clothingA combination of macro factors and smart action from big players left retail investors holding the bags in both Bitcoin and altcoins, Light explained.This was apparent before the comedown from $69,000 accelerated into December’s liquidation cascade — smart money knew that such levels were unsustainable, and reacted accordingly.”25% of derivatives OI was closed or liquidated. Billions upon billions lost. If people were cautious before, they were now properly risk averse,” the account wrote. „Those who did not take heed of the market’s mes
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