/biz/ - Business & Finance

Decided to look at the orderbook for XMR/BTC on Kraken. What's really interesting is even though we've had a recent collapse in sats, we see increasingly thick, juicy buy orders going all the way down, whereas the sell orders are noticeably thinner.

It seems the market is pricing this as if the Monero bull market is still perfectly intact, as people are willing to put up huge amounts of money to buy any dip but are skittish about putting up any sell orders and taking profits because they're expecting it to go higher.

To give more concrete numbers:
If you wanted to raise the sat ratio by 5%, you would have to buy 1250 XMR. But if you wanted to lower the sat ratio by 5%, you would have to sell 3200 XMR. I do not view this disparity in the orderbook as in any way sustainable.