i think the reason are paper btc:

some very rich actors are selling bct futures in a coordinated way

to suppress btc prices, make it look weak and undesirable.

futures are contracts which are not backed by the asset

they are sold naked which means that the asset is not needed

only fiat cash is

un top of that it is also traded with options which can also be sold naked (calls) without owning the asset. the same with all ious. ibit and others can be sold short.

obviously this is the case here. no news, everyone is buying and nothing else going other than massive money printing and announcements of more money printing.

this comes at the same time as criminals announce their programmable fake central bank digital currency.