Replying to Avatar plebiANON

Is the GBTC selling pressure just so large that is spoofing the market making to artificially depress the #Bitcoin price? The amount of ETF buying is absolutely absurd. I don’t think even a 50% bump in price since the launch is anywhere close to indicative of the real marginal purchase pressure. Or is there just massive selling into this pump? Disclaimer: I’m a retard. My thoughts may reflect that.

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Ike 1y ago

They are farming degens, see the liquidations on the 5th - over $800mill longs(!) rekt for the day. That's a lot of dough for this illiquid market.

Previous ATH didn't get taken out the first time either.

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