Casuwu

thoughts on this current price action and what I think is wrong with crypto markets; before starting, obviously I was wrong not to flip bearish/neutral at 80-85k, however my system remained bullish on HTF and I'm not going against my system, don't care, I take the L, my system has made me and will make me 100x more in the future than any irrelevant losses here that being said, I can now objectively commentate on the market with only spot holdings [that I don't touch until 2028-2029] from lower as my only skin in the game, I have a lot of stables waiting to deploy so red candles are whatever for me - here it goes; we topped on what was initially over-exuberance in the markets, clearly visible by over-extention in AI, valuations that no longer make sense, inflation/hike concerns mostly due to Iran and idiosyncratic crypto factors most notably leverage/alts decorrelation from a topping equity markets is something we could've counted on, but not with high conviction, for obvious reasons [decorrelation can only last so long] the issue started, in my opinion, on the day Binance got "hacked". I'm using quotation marks because I highly doubt it was a hack price action since then has been the single worst orderly selling I have ever seen. not even shadowy-BTC-sellers that turned out to be FTX 2022 can compare to this selling pressure. not even fucking close, by the way. I remember the markets in September/October 2022. before we knew about FTX hole, I felt the selling pressure on BTC specifically [this is why BTC bottomed lower than ETH that bear] weeks before FTX scandal. obviously, later I had an obvious retrospect moment of "ah, right, this was FTX selling BTC". again, as mentioned, current pressure is 5x worse at the very least. not a good look. pinpoint this as my 'option A'. my 'option B' is not crypto nor equities/AI related. unfortunately, this one is grim. BTC historically has proven to be the most sensitive asset to whatever is going on with the world. remember Covid? first to drop. first to feel the pressure. same with both of the wars last 4 years. now, if this isnt Binance, then its something much worse. I'm not going to doom, but by this time next week I am convinced we will know whats going on. complete war escalation? US/EU grounds hit? power grid outages? AI hacks? even...a nuclear bomb? I don't know and I'm scared to find out. BTC doesnt sell like this if something is not horribly wrong behind the curtains. contrary to popular belief, I'm actually a positive individual, alas, seeing this doesn't inject much hope into my veins. realism prevails, as painful as it is 'option C' would be the least of our concerns - stocks have simply topped [my HTF system actually signals 6-24 month tops in all US equity indices], AI trade is rolling over and taking crypto with it. we can only hope it's ONLY this, and not Binance, which sets the industry back for years, or even worse, a global fallout in which case we have more concerning matters to worry about than our coins. I hope its "nothing ever happens" and even if it does that governments will act accordingly [read; print money out of whatever issue there is] if its Binance, then we simply deserve it.