I am skeptical people are selling all this bitcoin. Some people are to be sure, but I suspect that this was a carefully coordinated attempt by large institutions, possibly even the USG, selling a huge position in order to try to shake peopleโ€™s confidence in the soundness of Bitcoin. โ€œLook! Got an ETF and it still went down!โ€ They do the same thing with gold to artificially suppress the price in order to hide the true value of the dollar, but this is much more difficult to do with Bitcoin because they can โ€œsellโ€ gold without having to physically deliver it. Not so with Bitcoin. Remember NYKNYC, if you have Bitcoin on an exchange, you have an IOU to the Bitcoin, NOT the Bitcoin. If that exchange gets liquidated or shut down or when their keys get compromised, you will lose your Bitcoin. Take custody, run a full node. Get sovereign.

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