The “short MSTR” gang is getting wrecked hard. 😵💫
Defiance’s 2x short ETF on MicroStrategy ($SMST) dropped 7.58% to $18.17, marking a new record low for the 4th day in a row. Volume? 🔥 Exploded to 2.88M — second highest ever. Translation? Bears are giving up. Capitulation vibes heavy. 💀
Meanwhile, Bitcoin flew past $122K and dragged MicroStrategy shares to $456 🚀. That’s what happens when you bet against a company sitting on 600K+ BTC!
On the flip: The 2x long MSTR ETF ($MSTX) surged to $50+ with rising volume. Bulls dancing. Bears drowning. 🐂💃
Moral of the story? Don’t fade Michael Saylor during a $BTC melt-up.