#Bitcoin demand from calendar futures dropped off a cliff (this tends to reflect sentiment from pro and institutional traders). Contango went into backwardation at levels akin to what we had at our $16k range.
Meanwhile the last 48hrs has seen bullish spot flows at exchanges when BTC dropped to the 19.5k-20.5k range, maybe from people fleeing USDC.
This looks responsible for causing a small short squeezed powered recovery.
Overall corn looks weak in the short term.
woonomic / Willy Woo
npub1cl…xxhme
2023-03-12 19:06:12 UTC
Author Public Key
npub1clwvhf87gsn20v02ywd9vda6gratnp3v3jrtxvc0ue0f7en5xhmq3xxhmeSeen on
wss://nos.lolPublished at
2023-03-12 19:06:12 UTCEvent JSON
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"content": "#Bitcoin demand from calendar futures dropped off a cliff (this tends to reflect sentiment from pro and institutional traders). Contango went into backwardation at levels akin to what we had at our $16k range.\n\nMeanwhile the last 48hrs has seen bullish spot flows at exchanges when BTC dropped to the 19.5k-20.5k range, maybe from people fleeing USDC.\n\nThis looks responsible for causing a small short squeezed powered recovery.\n\nOverall corn looks weak in the short term.",
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