Shorting MSTR as Bitcoin Hits ATH: Citron's Bold Bet on BTC
Citron Research is shorting $MSTR as Bitcoin hits $100K, noting a detachment from BTC fundamentals. Coinbase will delist wBTC on December 19, 2024, to promote its own cbBTC. OKX launched free, instant SGD deposits and withdrawals via DBS in Singapore.
Short MSTR while Bitcoin ATH?
While BTC is around $100k, Citron Research posted on X about $MSTR.Now, with Bitcoin investing easier than ever (ETFs, $COIN, $HOOD), $MSTR’s volume has completely detached from BTC fundamentals. While Citron remains bullish on Bitcoin, we’ve hedged with a short $MSTR position.Meanwhile MSTZ (2x short MSTR ETF) recorded over $1.5 billion trading volume compared to a daily average on $84 million on Nov.21.As the post says, much respect to @saylor, but even he must know $MSTR is overheated.
Coinbase delisting wBTC
Coinbase announced on X about its decision to delist wBTC: We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on our most recent review, Coinbase will suspend trading for wBTC (wBTC) on December 19, 2024, on or around 12pm ET.The wBTC custodianBiT Global claims Coinbase delisted Wrapped Bitcoin wBTC to gain a “competitive advantage” for Coinbase’s own Bitcoin BTC wrapper, Coinbase Wrapped BTC (cbBTC).According to DefiLlama, wBTC is still the most popular Bitcoin wrapper, with upward of $14 billion in total value locked (TVL). While Coinbase’s wBTC competitor, cbBTC, has emerged as one of the most popular BTC wrappers since its launch in September 2024, with some $1.5 billion in TVL, according to CoinMarketCap.
OKX supports SGD on/off ramp via DBS
OKX announced this week on launching instant, free-of-charge SGD fiat deposits and withdrawals.This is facilitated by DBS, Southeast Asia’s largest bank by assets. DBS is one of 27 banks and major payment institutions in Singapore that is a participant of PayNow, which facilitates instant, 24/7 money transfers through the Fast and Secure Transfers (FAST) service. OKX SG customers with accounts at any bank that is a participant of PayNow can now deposit SGD to their accounts using this service.
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