Are big hedge funds buying Bitcoin ETFs actually bullish on Bitcoin? Mark Yusko says firms like Millennium are also short Bitcoin futures, and their deleveraging could keep…
Original source excerpt
Are big hedge funds buying Bitcoin ETFs actually bullish on Bitcoin? Mark Yusko says firms like Millennium are also short Bitcoin futures, and their deleveraging could keep Bitcoin under selling pres…
Are big hedge funds buying Bitcoin ETFs actually bullish on Bitcoin? Mark Yusko says firms like Millennium are also short Bitcoin futures, and their deleveraging could keep Bitcoin under selling pressure for a while "You then had a massive deleveraging in the pod shops. Balyasny, Millennium. They fired a bunch of pods." "Everyone says, oh, look, Millennium's long $2 billion of Bitcoin. No, they're not. I mean, they are. But they're short at least 2, and probably a little more, because they have a net short bias, I think, because they're doing the index arbitrage." "They're buying the ETF and selling the future short. So I do think the distribution could be real for a little while."
AI context is not available for this statement. The original source can be read independently.