BITCOIN EMERGENCY 🚨 this is EXACTLY why btc is dumping hard
This is an up to date, image of the current order, books for bitcoin just notice how most of the volume comes in at 25 000 us dollars, but we have very thin cell pressure. Why are we seeing bitcoin sell off? Well, there is a very strong narrative attached to this that i want to describe to each and every one of you tuned into the channel. It has to do with luna and ust, but its not about luna or ust its about the three billion dollars worth of bitcoin in their reserves that they loaned out to professional market makers who understand these order books a lot better than we do, and so the Reason were seeing thin volume right now is probably because they have not sold off all the bitcoin just yet theyre, not just going to disperse of all of it into the market. Theyre going to wait for more volume to come in theyre going to monitor the order books. They understand this more than us, the algorithms that they use and so theres a narrative right now that until the ust stable coin can get pegged back to the dollar theyre gon na do anything they can to get ust back to a dollar and right now, its Not looking so well, luna is at 50 cents. It went from a 40 billion market cap down to a 300 million dollar market cap. I mean this is called ponzinomics at its finest, and so this is a strong narrative and we know fundamentals are just important as technicals.
I always preach this on the channel. Technicals are 10 fundamentals are 10 and then 80 psychology, and so look at how the ethereum to bitcoin chart is reacting to this. It is now flipped into a bearish puzzle, piece breaching the monthly open at 72 000 satoshis. We can change that red bitcoin dominance. Moving up is now a bearish puzzle piece and unfortunately, we didnt have any bearishness in the cryptocurrency market. Everything was outside of the cryptocurrency market. Hence why bitcoin was able to hold 30 000 so strong, but now we have a bearish narrative that is very strong within the market and now its turning all of the puzzle pieces away from the bullish, narratives and now people are focused in on well. What are these market makers doing with this three billion dollars worth of bitcoin? Nobody knows what theyre doing with the luna foundation is not telling us what theyre doing with it, and so we know they loaned it out to professional market makers, and we know theyre going to do whatever it takes to get usd stable. And so, as i mentioned in our video yesterday and over the last few days, we have to practice caution right now until we get this ust situation resolved, whether that takes luna going to zero. For that to be the case or whether usd does get restabilized at one dollar either, one of those cases could be on the table its not about ust or luna right now, its about bitcoin and the three billion dollars that they bought from over the counter exchanges Outside of the order books and are now deploying onto the order books, three billion dollars worth thats more than tesla, has on their balance sheet, so thats what the narrative is thats.
What were seeing play out in the market right now and we cant expect it to stop until we can solve this narrative and so lets practice caution snipers. Unfortunately, we now have these as bearish puzzle pieces, and so that does turn all of the puzzle. Pieces into bearish puzzle pieces right now, and so unfortunately, that is the case theres now bearishness in the cryptocurrency market. What i will say is for bitcoin. We know theres a lot of volume here at 25 000. So if we come down to 24 788 to 23 795, maybe we even expect the wick down below 20 000.. All of those are on the table until this narrative can get solved but, as ive been saying, do not take leveraged long positions. Inside of this range, only dollar cost average long term spot positions, because okay, bitcoin down six percent thats, not a big deal for a long term spot position, but on leverage that could be a big deal. Equity markets are still dry, not much to talk about there and then outside of that. I think that is all i want to cover. I will be monitoring this situation with ust on the discord with you guys, as i have been so for those not in our discord, discord forward, dot, gg forward, slash profits, id love to see some of you there and well see what happens here. I mean its very interesting. This narrative is very strong and so id love to hear your thoughts in the comments below.
But fundamentals are very important and this is new fundamentals that are just now coming on the table, and so we have to address it and with that, thank you all snipers for tuning in to our midnight update. This is like a 1 a.m.