The trading company of the richest cryptocurrency billionaire revealed that it bought “more” bitcoins for less than $30,000


Bitcoin (Bitcoin) The tragic drop below $30,000 on Tuesday has become what Alameda Research calls a “bargain-hunting” opportunity. Alameda Research is a Hong Kong-based quantitative trading company and liquidity solutions company. It was founded by Sam, the CEO and founder of FTX. Leader of Bankman-Fried.

Quantitative trader Sam Trabucco revealed on Tuesday night that the company bought bitcoin during the most recent price drop, adding that the company’s cautious strategy to do more BTC/USD stems from at least three “recovery” catalysts: continued cryptocurrency The potential end of FUD (Chinese ban, grayscale epic unlocking, etc.), the stock market recovered during the session, and the long positions in the derivatives market weakened.

“In my opinion, all these points [to] A similar (if ambiguous) direction,” Trabuco wrote.

“The influence of the news tends to recover? I expect cryptocurrencies to rebound more. Has the stock market *really* recovered? I hope that cryptocurrencies will also recover more. Liquidation is usually reversed? The same story.”

Panic selling ahead of time?Different opinions

The statement shows as Bitcoin Attempt to moderately recover to more than $30,000 on Wednesday. The cryptocurrency hit an intraday high of $31,669 on the FTX exchange, Just raised a record 900 million US dollarsLater, the price corrected lower, albeit in a small amount, and therefore showed limited selling pressure near the peak of the aforementioned period.

At the same time, Naeem Aslam, chief market analyst at AvaTrade Ltd, emphasized the resilience of Bitcoin to the near-term bearish outlook. Some people earlier pointed out that closing prices below $30,000 would have Cryptocurrency fell sharply.

“Actually, this is not what we are seeing,” the executive Tell Bloomberg“Bitcoin prices have been stable and we have not seen any panic selling.”

But Jeffrey Wang, head of Americas at the crypto-finance startup Amber Group, offers a cautious outlook. The former Morgan Stanley executive said in an interview with Cointelegraph that Bitcoin continues to trade under the influence of global risks, which may cause further losses in cryptocurrencies. He continued:

“Due to the relative calm of price movements, short-term speculation and trading have weakened in the near term. When we do see more volatile trends, more traders are expected to show interest. But if the risk background remains weak, this may be Push down prices further.”

Although Bitcoin fell simultaneously earlier this week, its recovery still lags behind the Wall Street Index. Source: TradingView

Edward Moya, Senior Market Analyst, Oanda Americas Load Regarding the latest Bitcoin-Wall Street correlation. He pointed out that if the US stock index enters a “panic selling mode”, it will cause the flagship cryptocurrency to fall simultaneously.

Moya wrote in a report on Tuesday: “It is vital that digital tokens return to levels above $30,000, as major breakthroughs may lead to large-scale technology sell-offs.”

related: As BTC fell below the historical trend line, a Bitcoin price prediction of $13,000 appeared

As for Alameda, Trabuco admitted that the company is aware of the downside risks of the Bitcoin market, but its recent increase in holdings has focused more on the long-term prospects of cryptocurrencies. He says:

“We did establish a considerable delta position for the quantitative team, and I am happy that this direction is so frequent-the bull market is more interesting.”

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