Quote from: DOH! on Today at 03:23:59 AM

Quote from: 9thsky on July 16, 2021, 10:50:51 AM

Can't see anything particular in the news, or is there? EM? China? Anything I'm missing?

This is not a drop, the underlying market is shifting the balance. It is happening, the panic symptoms are unique from GBTC, it is completely different from the previous FuD China, I think the market is still creating a level of bitcoin consumption and accumulation. we could slide a bit at $28k max, but overall volume and attraction have increased this week.

It's not just the unlocking of GBTC but regulation against stablecoin as well. More fuds to come and the rich are going to accumulate BTC from the poor. The old ways still exist in the decentralize world. It doesn't add up at all because the world has gone nuts already to which the demand for BTC should have gone up because of the issues.

But then again US government isn't going to give away huge stimulus packages anymore and a pandemic still arises. Maybe holders are selling their BTC to buy goods, they are panic buying supplies even in different parts of the world.