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🚨 WHAT HAPPENED IN 9 MINUTES?
1️⃣ Bitcoin dumps -9% in 4 minutes.
2 negative news come to existence around this moment.
- Evergrande files for bankruptcy.
- Supposedly SpaceX sold all its $373 million Bitcoin.
2️⃣ Source of SpaceX.
The source of the second news is from a WSJ article in which they describe what SpaceX did in the past with their crypto holdings. In no way states that SpaceX has sold it, but media starts reporting as if they had sold it.
In addition, last month it was reported that Tesla crypto holdings were unchanged.
I believe this to be targeted FUD.
3️⃣ SEC & ETH ETF.
A few minutes after the crash we got another headline:
"SEC set to greenlight ETH futures ETF"
This does not mean that it is approved, it means that it is very likely that they will not block the approval.
This is extremely bullish and I’m sure a coincidence. Funny.
4️⃣ ETH Recovery.
ETH completely recovered the dip after the futures ETF news.
5️⃣ BTC Crash.
- $855 million liquidated from the crypto market in the past hour.
- Open interest nuked, around June levels.
Full blown capitulation, it’s beautiful.