Tomorrow at 4 PM, $16 billion worth of Bitcoin options will expire. 60% of them are betting on a price increase—positions were built with upward momentum. The price dropped from 87,000 yesterday to 84,000 now. These contracts are expiring one by one. Once settled, these positions will disperse. The money chasing the CME list last night reacted the fastest. I said yesterday it was built on hype, and today it collapsed on its own. UNI gave back 10 points in a single day, altcoins are dropping even harder. Meanwhile, Bitcoin only fell 2 points. I’m letting go of these long positions before settlement. No new money is coming in to support them, so they can only keep falling on their own.