Dylan LeClair on Bitcoin Data Where Macro Meets Micro
The Breakdown
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The Market Cycle of Derivatives Is Misunderstood
A, i think the derivatives markets ave often, like, very misunderstood. The derivative market was extremely long at the top in april and extremely short at the bottom in july. So were people looking at that, like, why is the price action still going down? And it was like, all derivative driven, right? While everyone is tacking the bottom of the summer. Just stuff like that. It's not like even michael burry doesn't understand mickanderivitits. He's like, he's like, do you have to collateralize a bi crypto shorts? Iwas like, oh, my god, like this isn't just misunderstood by, like
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