Today you can short Bitcoin

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First trading day of the week for the equities market but no breaks for the 24/7 crypto markets! Let's jump in.

Today's Topics:

• ProShares Launching an ETF for Shorting Bitcoin

• How re people making $$$ in the crypto bear market?

• Crypto to zero?

• Quick Links

ProShares Launching an ETF for Shorting Bitcoin

Image from ProShares

ProShares, an exchange traded fund (ETF) provider will launch an investment product so people can short Bitcoin. The timing comes when the crypto markets are down bad. Coincidence? Maybe.

Called Short Bitcoin Strategy ETF (NYSE: BITI) it will launch Tuesday, June 21st. Traders can bet on the price of Bitcoin falling through futures contracts.

Last year ProShares launched an ETF for Bitcoin and the price went up to all time highs of $69,000. Hopefully this new ETF does not send Bitcoin to future 2022 lows.

How are people making $$$ in the crypto bear market?

People tend to think that no one makes money during bear markets but this is far from the truth. Traders gonna trade. A few methods:

• 1/ Arbitragers scouring centralized and decentralized exchanges for price differences. Buy off one exchange and dump on another.

• 2/ On-chain triangular arbitrage. Decrypt example: "A trader notices that they can buy 1 Wrapped Ethereum (wETH) for 1400 DAI on SushiSwap and that the wETH, a version of Ethereum that can be used on other blockchains, can then be sold on Uniswap for 1,500 US Dollar Coin (USDC)."

• 3/ Flash Loans: Purchase an asset then sell at a higher price while simultaneously repaying the loan in the same transaction. The profit is whatever is left over.

So what are you waiting for?

Crypto to zero? A thread by Shivsak

Shivsak goes through a few interesting examples such as:

• Government bans

• ETH Failure

• USDT/USDC collapse - These are the last 2 remaining heavyweight stable coins.

• Coins don't capture value

• Severe economic recession

End of the day he is still bullish.

Full blog post here if you don't want to read off Twitter.

Quick Headlines

Solend vote cancels the DAO decision to take over whale account - 99% of the people were against.

Zucks goes full tilt on VR Headsets - The photos alone are hilarious.

USDD Stablecoin still under peg - Tron's stablecoin is not off to a hot start.

Babel Finance improves liquidity - All it took was some renegotiation of payment periods. Unfortunately withdraws are still paused.

Funding:

Alameda loans $485M to Voyager - Voyager is looking to prevent a collapse from bank run.

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Disclosure: We are a newsletter for information only. We are not financial advisors nor do we claim to be. Consult your legal, investment or tax advisor. Crypto is risky. Do you own research.