XTRA Bitcoin Inc (CBTC)

[Taylor Orion]

I don't think it is simple bid whacks, based upon trading history lately. Seems more like last ditch efforts to try and use more sales or shorts to push prices lower in order to cover prior shorts at the best prices they can. The oversell that occurred from the 30+ MM short sales that went off in chunks to simulate dilutive effects on Monday didn't seem to bring about desired results. So, yesterday, liquidity dropped again and then more buys instigated further short sales (most likely lots from MM's that had no more shares to sell). Now, I think the chunks of sales look like they are mimicking the same patterns we saw on Monday in efforts to drive the price low enough to convince more holders to sell to reestablish liquidity at lower levels instead of allowing a run to bring about liquidity at higher levels. My theory is, as long as there is a longer hold out of retail traders, there should be a forced cover to higher levels again. Nothing crazy though - not looking at an immediate retrace to .006/.007, maybe more along the lines of .0026. Just my opinion, though.