I just woke up after an hour-long summer nap. I didn’t go to the pool today—there’s not much to do outside when it’s 30-plus degrees Celsius, so a nap felt like the perfect move.
I left BTC hovering around 21,000 to 22,000 United Israel Dollars and woke up to BTC at $118,000 and ETH close to $4,500. BTC did hit a new ATH about 12 hours ago at around $124,000.Every time this happens, degens start longing, and every time the liquidation wall gets thick enough, market makers crush these guys.
One dude, Aquilla Trades, seems to have lost over $40 million on an ETH long trade.
These guys never learn. Spot and chill is healthy for the heart. I’ve rarely, if ever, seen such degenerate traders make a killing. There was a CME gap for BTC between $118,000 and $120,000, and it got filled.What caused the dump? The official narrative is that PPI numbers came out, and they looked shitty.
Frankly, I don’t even know what PPI stands for, and I don’t care. I could easily find out—AI’s pretty damn helpful these days for decoding the world.
We’re still living in a world full of clowns gambling with high leverage on internet digital coins. According to coinglass data, these bozos got liquidated for about $420 million while I was napping.
I’ve got some longs on DOGE, SUI, VELO, HIVE, and a few others—most are still in the green. I already took solid profits on my BTC long, entered at $112,000 a couple of weeks ago.
This might be the final show in this bull market, but it won’t be an easy meal. The ones who got liquidated recently and the sidelined crowd will end up buying tops in the next few months. We’re in a world of algos and AI, so don’t expect making money in trading or investing to be as simple as it was four or eight years ago.
Plenty of coins are still dirt cheap, HIVE included, but these fuckers aren’t piling into those. They’d rather lose money longing local tops with high leverage. No easy lunch, mates. Have a great day, and I’ll catch up with you all next time.
Thanks for your attention,
Adrian