As reported by MetaEra, on November 23 (UTC+8), Benson Sun, a prominent figure in the crypto space and former FTX community partner, shared on social media that his quantitative long positions had been paused after hitting a stop-loss at $90,000. He noted multiple signs of a market bottom forming and expects a wide consolidation range to emerge, which is suitable for quantitative strategies to trade in waves. Regarding the removal of MSTR from the index, he stated that the market has already fully priced in the negative expectation, and the current irrational plunge is no different from the scenario after the removal. He also mentioned that he is still holding his long position with an average cost of $81,500 and will continue to do so until overall liquidity dries up.
Benson Sun Observes Multiple Bottom-Forming Signals, Market Has Fully Digested MSTR Index Removal
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