Un Podcast Sobre Bitcoin El hundimiento de bitcoin explicado
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Nov 20, 2025 Explore the intriguing concept of the 'teardrop event' and how it relates to Bitcoin's recent plunge. Discover how arbitrage practices may have drained liquidity, contributing to market instability. Learn about the mechanics of basis trades and their impact on profitability in Bitcoin ETFs. Dive into reasons behind the unsustainable peak of 126k and what it takes for the market to recover. Understand the prerequisites for a potential bull run, including the role of long-term holders and real capital buyers.
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Teardrop Event Explains Rapid Crypto Crashes
- Alberto Mera explains a "teardrop event" where hope flips to panic and creates a sharp, accelerating selloff in crypto markets.
- The event describes a correction that morphs into a self-reinforcing crash once market participants accept there will be no rescue.
Basis Trade Connects Cash, Repo And Futures
- Alberto Mera outlines the basis trade: buy a treasury via repo and sell the future to capture the basis spread with low directional risk.
- He highlights that this trade links treasury cash, futures and repo markets and stabilizes US debt liquidity when profitable.
ETF-Futures Arbitrage Drove Bitcoin Demand
- Alberto Mera maps the same arbitrage model from treasuries to Bitcoin ETFs: buy ETF exposure and short futures to capture basis yield.
- He notes hedge funds used ETF holdings as collateral and earned high annualized returns when the basis was wide.