I can see if someone has leveraged bets on the sell side and also owns a lot of spot to have an incentive to dump and make money on the futures. That makes sense. But eventually like you said, their supply to sell spot gets eaten up by hodlers……
I want anyone to see this that has a metamask holding eth to highly question the security of that practice. If anything might convince a few to put their money in bitcoin instead and self custody……
There’s no Bitcoin being traded though, so I don’t understand why that would effect price. Nobody buys futures in place of real bitcoin, so it’s not diverting demand, and if you sell paper bets that price will go up or down that seems to be contained in……
“I thought all my money would be safe on a web browser extension, HELP!”
It really sucks but a lot of these people need a cold shower like this to realize how stupid they are……
