Do you think that this skyrocket has something to do with Facebook's(Meta) massive drop? It could be the whales from there that have taken their share moved some of their wealth into bitcoin. I'm only thinking that it's one of the reasons on what we're seeing right now and it's my just mere opinion about the recent pump. It's likely that it will eventually hit back $41k.
Stock market is down, and I'm under the impression that investors are shifting to bitcoin right now that's why the massive increase which is very unusual because it's weekends.
So I would say that we shouldn't be jumping for joy, we will have to see how this spike will go. This might be a bull trap for all we know.
I think this is not the first time that happened but it happens before. When stocks market is down, bitcoin and crypto market will then rise. Maybe you are right with your impressions and maybe this how it works but if they are transferring here, does that mean that they will also sell at a loss?
They have no difference with the panic sellers that we have here in crypto that also sell at loss to transfer to the other investments that they think are safer at the moment just because their current investments are not doing well but we cannot prevent others if they will celebrate this unexpected pump that happen in bitcoin because they also have waited a little longer.