Just trying to stay up to date and if asking for such a drop is not allowed, it's a cult. It's not about conviction to ask for reasons.
Was it SpaceX? Was it Evergrande? Whatever. I'd like to know why such news would move the market by $50B.
SpaceX bought Bitcoin -> Yeah, they get it! Pump it baby!
SpaceX sold Bitcoin -> Whatever man! Where is your conviction?
Looks like a cult, doesn't it?
probably interest payments
Ask all you want. I’m saying it doesn’t matter, and even if it mattered you will not find out what inside games are being played
Whoever has a definite answer probably has their own agenda but that doesn't mean it's not entertaining to speculate.
News doesn’t move (any) markets, sentiment and positioning does. Media likes to assign a reason after the fact. Lots of leveraged long positions and stop losses were wiped out so a small dip became a big one by automated “sell at any price” selling. Occasional big surprises do move individual securities, but bitcoin is not a security.
So you are saying this was effectively a short squeeze. Some whale might have fat fingered something but the bulk of the volume was just stop losses.
Feel free. I was just stating my perspective
Just because it doesn’t matter doesn’t make it a cult. The term cult is thrown around these days just as much as the word racist. At the end of the days these words have zero meaning anymore.
So say you’re equipped with “info”, be it false or not, what will you not accomplish with that information when it comes to Bitcoin? If you’re a trader, I guess it means a couple hundred cuck bucks possibly, before you’re taxed to high hell. And so what? You’ve now traded something of value for shit. They’ve got casinos called shitcoins for that if you’re interested.
Bitcoiners in it for the long-haul are not impressed with the day-to-day. The only appealing thing may be a cheaper Bitcoin, at a discount.
