I think #ETH bag holders are using this as cover to dump their ETH positions without crashing the price.
I’m not exactly sure of the mechanics of that but my gut is telling me that they are bailing out of that dumpster fire. nostr:note1ux900k5xzvjn0txr272t98qqerk4szqgmfn98dm2d7dmg39fxe0qrrr4mw
Money flows from weakest to strongest asset
Eth is used to control rallies in BTC. Create unlimited ETH, create unlimited cash, viola market manipulation.
I wonder if there’s an effect for these “traders” where when there is a catalyst for selling - they do, but when it’s time to buy back in, they look at ETH vs BTC one more time and make the switch. Would seem to explain this pattern. Self reinforcing
I don't really care, nore have I really looked into it, but it looks like ETH bags are generally moving to solana.
