The Wolf Of All Streets Bitcoin DROPS Below $69K Again! Is The Bottom In??
11 snips
Feb 9, 2026 
Mike McGlone, macro and commodity strategist known for clear Bitcoin and gold analysis. He discusses whether Bitcoin’s dip signals exhaustion or more forced selling. Conversation covers ETF, futures and options mechanics, leverage-driven unwind dynamics, macro crosswinds like yields and policy, and how derivatives and liquidity now shape price discovery.
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Interpret Options Hedging Correctly
- Understand hedging mechanics: options and market makers create delta hedges that affect futures, not dollar-for-dollar selling.
- Use that to interpret price moves instead of assuming direct one-to-one liquidation.
Trading-Desk Lessons Applied To Crypto Crash
- Mike McGlone recalls seeing similar forced-deleveraging dynamics across his career at trading desks.
- He uses those experiences to interpret last week's crypto and ETF-led selling as professional risk-management flows.
Fed–Treasury Coordination Is A Live Topic
- A potential Fed–Treasury accord or yield-curve control is being discussed to manage long-term rates and financing needs.
- Such coordination could lower long rates short-term but risks Japan-style long-term consequences.