I am going to talk about whats, going on behind the scenes and im going to give you an update on celsius as well. So welcome back everybody. My name is cristiano, bringing you cryptocurrency videos every day, teaching you how to make money in this market. If you are new to the channel, then make sure to subscribe and activate the bell right now and bitcoin is seeing some green, so this is looking good right now we are seeing some nice pumps. Actually we did pump above the 20 000 level. We have hit it on the way down as well re testing this and so far so good. Now. What i want us to do is take out this high right here at 21. I want us to go above this orange box here at 22 300 as well, but my general stance remains the same. I am fine with losing out on time in the exact bottom, just as long as we get some clarity regarding the contagion from the celsius, the luna, the three arrows collapse. What more we dont know, so i still think that uh sitting on the sidelines right now is not a bad thing to do, because, yes, we are seeing some green right now, but the dust has not yet settled from the uh massive events we have been. Having now until i do see some confidence in the market again and we do see the implications of the three hours capital celsius luna going down, i am fine with losing out on timing, the exact bottom i mean.

I still. I think that theres a high probability that we are going to stay within the range of like 22 to 17 000. You know if we stay in this range for quite a while. We are still going to have a lot of time to position ourselves in the crypto markets and doing it from a much better place once we actually see the dust settle a bit regarding the situations we have been having here. So that is my general stance. Of course, its, never a bad idea to you – know dollar cost average into bitcoin and buy bitcoin doing this massive dips, but yeah going all in at this particular level. When we still do not know if you are going to see some more damage from the uh series of events, weve been seeing recently, that is not something i am going to do at least so. That is my general stance right now uh. I still think that we overshot to the downside going down to 17500. I still think that that was an overreaction. This is something we havent really seen in previous history. You can see that we even closed a candle below the 200 week moving average here on the weekly time frame. You can see that we closed this candle right below it. Not only did we go significantly below it, but we actually closed below it and uh yeah. We did see a close below it right here as well, but this was much closer to the actual level.

We never closed below it right here and we never closed below it kind of right here and not here either. So we are seeing definitely an overreaction to the downside. The problem is, i think, that we can still have more downside left, even though we are seeing an overreaction. It doesnt mean that this was the all of the overreaction, so to speak. So, even though we are definitely in a buy zone here, according to all of the metrics, we have been tracking and all of the metrics we have been seen it doesnt mean that this is the end of the correction, so um waiting for the dust to settle And then i am getting into some heavy positions here in the crypto market. Also, if you look at this chart, this is the bitcoin realized loss, and this shows us how much of all transactions during one particular time how much of those transactions were at a loss, and you can see that we hit an all time high right here. We have never seen so many people sell bitcoin at a loss right here now. This is usually at least a short term bottom. You can see that we had a bottom right here. This was also a very high level, and then we had a little bit of a pump, and then we continued to the downside. So it doesnt mean that it has to be the cycle bottom, but it is usually a local bottom.

At least you can see that right here as well – local bottom – you can see right here. Local bottom had a little bit of a pump here right here, also local bottom small little pump local bottom here, a little bit of a pump right here covered crash. This was the cycle bottom, and then we took off from that level. This was also the cycle bottom to go from that level. This was a local bottom, had a massive pump after that same level here, and then we continued to the downside. So this is usually a good indication that we are at least at a short term bottom now. Why did we see a pump in the crypto markets yesterday? Well, spf actually came out and said that they have bailed out some crypto companies recently to try to limit this crypto crash. Now i posted this on twitter yesterday. Where did i get this information from? Well, it was sam who, in an interview with npr, said the following, that he believes that they have a responsibility to seriously consider stepping in, even if it is at a loss to ourselves to stem contagion, and even if we werent the ones who caused it. I mean the crashes or werent involved in it. I think thats, what whats healthy for the ecosystem, and i want to do what i can help to grow it and to have it thrive. So this is what i posted on twitter yesterday and then uh some people.

You know were came out and said that they are actually the reason. Ftx and sam are actually the reason why the crypto markets are going down to begin with recently because they have been attacking celsius network. Now sam himself came out and said on my tweet that this is definitely false. We want to help those we can in the ecosystem and have no interest in hurting them and that just hurts us and the whole ecosystem. Now why do people believe that sam is actually the one who is attacking celsius right now? Well, plan c actually have put together. A kind of these is right here, a story and uh yeah. He basically also paints the picture that sam and sbf actually uh wrecked celsius here now, true or not, let me just give you the gist of the story here. As you know, i have also been talking about this previously when celsius started to uh, really take a lot of heat and they had to hold withdrawals. I did tell you that the celsius was actually the first major player who withdrew ust uh from the anchor protocol and sold market dumped, their entire ust bag, which then started uh. You know more players taking out their ust, and one of the major players holding you is tien. Luna was actually sbf and alameda here. So during the turmoil, sam trabuco, who joins, who works with sam and sbf, said during the crash starting to see a little chatter about this, so just to quell it before it gets worse.

Alameda hasnt been selling usd and doesnt have any particular plans too. So uh yeah, then the peg really started to go down and there were reports about a bailout from uh prominent crypto investors like jump celsius, jane street and maybe alameda to try to bail out luna. They were targeting 1 billion to 1.5 billion. The deal never closed, but yeah dokwan also during the turmoil, said that he was close to announcing a recovery plan for ust. There were a lot of reports here saying that yeah they were very close to uh stealing this deal, but then alex came out and said for the avoidance of doubt, celsius network was not and is not involved in any lunar bailouts. So this plan, you know, really started to go south and then the lunar price continued to go down, so the plan was not relevant anymore. At that point, so celsius got out of the door first and suffered the lowest losses and didnt want any part of the bailout and the stockholding. The ust and luna bags were alameda three hours, capital, galaxy, digital and jump capital. Jump later came out and uh yeah spoke about this and how lou um celsius selling a lot of their ust definitely contributed a whole lot to the ust peg going down. So this could be one of the points, and this is something i pointed out very early that you know a lot of people were very mad with celsius, probably for dumping their ust in the way they did, and the question is if there was a planned attack On celsius here now, this is just speculation.

To be honest, i think that celsius, the way they have been doing their business. Of course, there were flaws in the business, so, at the end of the day, they are stuck with a lot of funds. A lot of ethereum they are not able to really sell. So at the end of the day, it was celsius themselves, their business practices who made this attack vector possible to begin with, even if they are attacked. But there is a movement right now with a short squeeze movement where people are trying to buy up celsius to wreck all of the people who have been shorting celsius. So yeah celsius definitely has a community as well, so its basically 50 50. Some people thinks that sbf and sam did initiate an attack on celsius and the rest. The other 50 basically thinks that no, it has nothing to do with the sbf. It has everything to do with celsius and their flawed business practices. Now. What i will say is that we dont really know who alameda meant when he said that he bailed out some crypto players here. One we do know of is actually voyager. The voyager is actually or alameda. Research is a shareholder in voyager who also is a lending platform, and they have extended a massive loan to voyager amidst the market volatility right now for voyager to continue their business now. We also know that alameda research and ftx dumped a lot of ste to get out first out of that position and that put a lot of stress on celsius because most of their funds or a lot of their funds is in sds, which they are not able To unload so basically, if celsius got out of usd first and uh yeah left a lot of lets say drama on the back of them selling their entire ust bag.

Well, aluminum research sold all of their ass to eat and left a lot of damage on the back of that. By doing that, celsius were in a very bad spot, so is it just market participants doing their usual thing, or is there actually some bad blood between them? We do not know that for sure, but i think it would be interesting for sbf to say which companies he have actually bailed out behind the scenes here apart from voyager. Lastly, i also want to talk about this so solend. I think that this is like a you know: uh ave kind of a protocol on solana. They have a massive whale who was very close to being liquidated and they actually put in a vote to actually liquidate that whale and handle that otc, because if that whale were to be liquidated, that would uh basically crash the entire solana price, because it was such A big whale basically and if he got liquidated that would drag down the entire solana market with him, so um yeah. That was very interesting to see that this is not only uh spreading into centralized platforms. Also, decentralized platforms are taking action here, or you know, quote unquote decentralized, because how decentralized can they be if they put in a vote to liquidate a whale on the chain here so now? One other thing i want to show you today is actually a new software and a new partner of the channel i will be using – and this is super useful, because one thing im watching right now is the current liquidity on the exchanges, and what you can see Is that right to the right here, you can see that theres massive liquidity right around the thousand four hundred dollar level right here, so you can see that the bitcoin price is uh kind of going towards that level.

But i am expecting you know. If these, you know, whales here continue to have liquidity, buy orders at this at twenty thousand four hundred dollar level, then of course, theres gon na be some problem getting down below uh this actual level here. So i am going to keep updating you on this guys. Make sure to follow me on twitter as well. I will try to update you more real time as soon as i see something uh going on with the liquidity here and, of course, if you want to check it out for yourself, there is a link down in the description, all right, guys, thats.

https://www.youtube.com/watch?v=ZWuwSCabFXE