The banking system that bitcoin was made to save us from is in trouble.
And some gigabrains are dumping their bitcoin over it.. 🤷♂️
Discussion
go back to sleep friend 😂🫂
Worst that can happen is that at a certain price level some entity can buy more than half of the total supply. Then it's cornered.
Sheesh. And it’s a log lot on the y axis. Yeah that seems undesirable. Nice to see they got wrecked
No one can buy half the supply, since it’s not for sale. Also, if someone tried, the price would instantly respond and make it an impossible exercise
This guy is confused...🌹
I don't say happens (lets hope not!), but the worse thing that can happen is what happened described here: https://en.wikipedia.org/wiki/Silver_Thursday
Nothing to do with confusion. You are trolling
*it
Well said 🫂
They are going to put up a fight and we have to HODL back. #Bitcoin was made for this 🧡
Cheaper sats for us.
My long-term thesis hasn't changed. 🟠⚡
Surprised that there are still ‘traders’ left 😂. Oh well, more cheap sats for us.
Brainwashed sheeps not investors
Fiat mindset.
Your post is being shared.
Added to the https://member.cash/hot feed
this reminds me of people jumping to cold ocean from the life rafts just because people are jumping from a sinking Titanic too
My take is that GBTC discount topped out and people are selling BTC for GBTC.
Maybe they get a win in court and ETF is coming.
Prob just shorting on news, that’s the whole point of trading
Dumping their Bitcoin into Cash to put in the Bank. Bank run underway. FDIC is 99% under funded. FDIC can borrow 500 bn from the Treasury. However total deposits in US are 17,715 bn. Someone is not going to get paid if massive bank run. Does the Treasury even have the 500 bn. Looks to me that someone wants to break the banks, so that they can step in with a CBDC. Banks not needed. Freedom gone. Better to keep your Bitcoin, and even get more of it. Need to start thinking more about trading Bitcoin for Food, Shelter, Services and Utillities instead of Fiat.
Every single time something like this happens, and it's happened a few times with Evergrande or MBS crisis or whatever, corn is cheap. That's the moral of the story. 🌽
I believe it's likely that this is a liquidity event and these sellers are either forced sellers or trying to avoid becoming forced sellers. Just my 2 sats.