“The defiance Daily Target 2x Short Mstr Etf Fell To a Record Low for the Fourth Consuctive Day.”, – WRITE: www.coindesk.com
-Holder Microstrategy
(Mstr)
Seem to have Run Out of Patience and Look to Be Exiting Bearish Bets.
On Monday, A US-LISTED EXCHANGE-TRADED FUND (ETF) That Provides A Levered Bearish Exposure To Shares of Bitcoin Holder Microstrategy Sank to Lifetime Lows Lows on the Back.
Prices for the defiance Daily Target 2x Short Mstr Etf, Listed Under Smst on Nasdaq, Slipped 7.58% to $ 18.17 On Monday, Hitting A Recorde Day. TradingView.
The Decline Happened As 2.88 Million Shares Changed Hands, The Second-Largest Trading Volume Tally Ever.
Smst’s Daily Chart. (TradingView)
Bears Capitulate As BTC SurgesSmst’s High-Volume Collapse Points to Capitulation of Bears-Those Betting Against Mstr Have Likely Given Up and Are Exiting the Market.
A High-Volume Record Low Typically Indicates Capitulation-Market Participants Surrendering to the Releentless Bearish Trend and Exiting All Their Positions, Giving Up All Hope of A Recover. This type of price Action ofnten Marks Peak Bearishness in the Market or Bottoms.
Bitcoin’s Price Tapped Record Highs Above $ 122,000 Dringing Monday’s Asian Trading Hours, Providing Bullish Cues to All Things Tied to Crypto. Later in the day, shares in mstr rose over 3% to $ 456, The Highest Since November.
Levered Bearish BetThe 2x Short etf Seeks to Deliver Daily Investment Results That Are -200%, or Minus 2x, The Daily Percentage Change in the Mstr Share Price. In Other Words, It’s A Levered Bearish Bet.
The Etf’s Price, However, Has Collapsed from Over $ 2,000 On The Inception Day in August Last Year, and Has Been Primarily in A Downntrend, Barring The Brief Uptrend From. Year. As of Friday, The Fund Had A Net Inflow of $ 8.2 Million in Six Months, Account to Vettafi.
Mstr’s Share Price Has Increated Multi-Fold from $ 100 to Over $ 440 During the Same Time. Microstrategy is the Largest Publicly-Listed Bitcoin Holder in the World, Boasting A Coin Stash of 601,550 BTC ($ 70.56 Million) As of Writing.
2x long mstr etf risesThe defiance Daily Target 2x Long Mstr etf Rose to Nearly $ 50 On Monday, The Highest Since January 24, with Trading Volumes Rising for the Fourth Straight Day to Tally 9.2 Million.
As of Friday, Mstx Had A Net Six-Month Outflow of Over $ 175 Million, Per Vettafi.
Read More: Anti-Bitcoin Vanguard Might Be The Largest Institutional Holder of Mstr Stock
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