Well-known trader Killa: The crypto market may be de-risked after the mid-term elections, and then hedging of short orders will be considered

According to BlockBeats news, on October 4, well-known trader Killa issued an article stating that he does not believe that Bitcoin will hit a new low again and currently maintains a long position. However, after the U.S. midterm elections, the market may still experience partial de-risking behavior, so it is not the right time to establish hedging short orders in advance.

In every U.S. midterm election cycle in history, Bitcoin’s post-election performance has been weak. But if Bitcoin continues to rise before the election, traders can wait until the midterm elections are approaching and decide whether to take action based on price action by then.

He believes that the more reasonable strategy at present is to continue to hold long positions and observe the market reaction before and after the mid-term elections, and then consider whether to establish hedging short orders, rather than just shorting in advance based on historical cycles.