About 3 hours ago nostr:nprofile1qqsvf646uxlreajhhsv9tms9u6w7nuzeedaqty38z69cpwyhv89ufcqpr4mhxue69uhkummnw3ez6ur4vgh8wetvd3hhyer9wghxuet5qyv8wumn8ghj7un9d3shjtnndehhyapwwdhkx6tpdsluu3ff said “could it go to 80k? Sure, I guess”….hommie, it’s 89k and it’s only been 3 hours. Can’t wait for next week’s hold your bag Monday!
Replies (8)
Cheaper sats, and leverage getting washed away!
Bro, that’s been happening since October. Nothing new. They keep building lower walls of paper BTC longs, MMs will keep pushing the price down for more cheaper sats.
Ok I sorta understand the longs manipulating price but what’s an MM?
Market Maker
So when you say paper bitcoin, do you mean entities like Blackrock and ETF issuers selling shares that may not be backed by bitcoin? Essentially "satisfying" demand without any actual supply being taken up??
Most likely Binance, but would not be shocked in the least to discover negligence across US based CEXs. They know a majority are not going to want to hold in cold storage, so no real fear of a run of withdrawals to cold storage.
So essentially what FTX was doing? They had their own coin, and so does binance. Suspicious?
I believe so and yes.
