$LUNA shorted at $109.22
Luna / US Dollar (calculated by TradingView) BINANCE:LUNAUSD
Terra (LUNA) will probably function as a leveraged $BTC play in the near term. With Do Kwon ending the weekly Bitcoin buys, plus all of the macro headwinds against risk assets coming with the growth slowdown, I think the steam is going to run out of this trade on both sides soon.
LUNA will fall harder than Bitcoin in that environment, as people flee UST during the risk-off and mint more $LUNA – causing inflation with a shrinking treasury value.
will keep moving my stoploss down to secure profits.
Cheers!
