The BIG hedge opened hedge positions for more than $7 billion
The BIG hedge: even the whales are scared
The big guys have opened hedge positions for more than $7 billion. That's 3x more than during the 2008 crisis.
A hedge is protection of a trade position from drawdown.
How does this affect cryptocurrency?
It shows that there is a huge fear of drop in the stock market as well as in the crypto market.
Any big moves in stocks will be affecting the crypto market as well.