Ledn co-founder Mauricio on the loan book behaviour that told him the 60s were the low
"In previous conversations a month and a half ago I was saying I was seeing very different behavior on the second retest to 60 that we got. From that moment, that was when I started sensing this thing wasn't going to go any lower"
"The first time we tested 60, we did see some people get caught flat footed, there were some liquidations, and shortly after we saw people sending more Bitcoin, partially repaying their loans, taking preventive action"
"The second time we hit 60, we saw a flood of new Bitcoin coming in to take out new loans. Many times people were using those lows to buy Bitcoin, to buy gold. When you see people running at the dip as opposed to running from the dip, that is what starts shifting things"
"Our estimate is that we manage 30% of Bitcoin backed loans globally at a retail level, so when we see broad moves like this and similar behavior across the geos, that's a sentiment indicator. I was one of the proponents that 60s were the lows from months back and I was getting pushback, but it was purely based on what I was seeing"
What Bitcoin Borrowers Are Telling Us About the Market -
@cryptonomista from
@hodlwithLedn
00:00 Bitcoin Jumps 20% as Sentiment Flips
01:20 What Lending Data Says About the Bottom
04:28 What Happens to Bitcoin Loans After a Big Rally
05:42 How Auto Top Up Protects Bitcoin-Backed Loans
08:31 How Bitcoin Loan Liquidations Actually Work
12:04 Why Gold’s Biggest Problem Is Geography
14:02 Tokenized Gold Could Do What Stablecoins Did for the Dollar
16:17 How Stablecoins Changed Lives in Venezuela
18:37 Borrowing Against Tokenized Gold
20:36 Who Will Actually Use Tokenized Gold?
21:48 Is Bitcoin’s Bear Market Finally Over?
22:28 Final Thoughts