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Benson Sun Resumes Bitcoin Long Positions After $90K Stop-Loss

Coinkarma founder Benson Sun reinstates quant-based Bitcoin longs at $81.5K average amid perceived market bottoming and after MSTR index removal news.

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Summary

On November 23, Coinkarma founder and former FTX partner Benson Sun confirmed he reopened his quantitative long positions in Bitcoin after a $90,000 stop-loss triggered earlier. Sun stated he identified multiple bottoming signals and views the recent MSTR index removal as already priced in. He maintains his average entry price at $81,500, planning to hold until liquidity conditions change.

Terms & Concepts
  • Stop-loss: An order to sell an asset when its price falls to a predetermined level, used to limit potential losses.
  • Long position: A trading stance where the investor profits from an asset’s price increase.
  • Quantitative trading: An investment strategy based on mathematical models, data analysis, and algorithmic execution.