The present bias towards long positions means potential for a long squeeze, where investors who hold long positions feel the need to sell into a falling market to cut their losses, thereby creating a liquidation cascade. A similar build-up in late December peaked at $1.37 billion – preceding a drop from $120 to $83, or 30%, at the time.
China’s Leading Blockchain Advocate Faces Investigation
Yao Qian, a prominent ‘pro-blockchain official’ in China, is under investigation by Chinese authorities for undisclosed “violations of law.” The...