Solana At Massive RISK (BE READY!) | Bitcoin Bouncing After Massive CHANGE From *These* Holders!
I want to talk about something that i did a kind of a big move that will probably catch some people off guard uh because of some bad news that has come out, but i also want to talk about some good news. We are seeing a bit of relief in the cryptocurrency market. I wanted to show you whos, selling and whos holding now, because there has been a big change and just take a look at some of the top news, also giving an update on celsius, because ive seen some people asking for that. Now, if you dont mind hitting the like button and subscribe button, thats all im going to ask turn on the bell notification. So you know right when i post a video, because i try to bring new content really quickly when there is time sensitive information theres. Also, a link down there to the patreon. I did give them information on what i sold and bought here today before anyone else, obviously, because they do get first information there. Now the crypto market is looking better here today were seeing a bit of relief after a terrible last seven days with bitcoin down 22 percent ethereum down 22 as well over the last seven days and were seeing some relief. This is nice uh just because the market has been so beaten down now its interesting, because relief today would have been last weeks capitulation. We would have had so much fear if we had been told that bitcoin would be at 21 000.
A week ago, a lot of people have freaked out, and a lot of people did over the last seven days now the the american stock market is closed today for a national holiday juneteenth, but some of the other exchanges are obviously open. Some of the other stock exchanges, the foot c100 out of europe – is up about 1.3 percent, so the stock market is doing a little bit better today as well. You can also see here see here that theres less fear in crypto still extreme fear, but less fear than yesterday. We were at six now were at nine, were getting a little bit closer to the 200 week. Moving average as well on the weekly candle here for bitcoin were still about 1700 away, but typically we only stay underneath this 200 week moving average for just one to two weeks in a bear market and then pop right back above it. So this has been a great time to be accumulating, bitcoin, obviously theres, always more fear. This time is different. Its it always seems like its different, but historically this has been a really good time to be buying. Now, with that being said, were still getting a lot of liquidations 260 million today less than we saw last week, but still a lot a lot coming in ethereum and bitcoin, and a lot of shorts being liquidated actually, which is good for everyone. Just holding bitcoin 118 million dollars worth of shorts liquidated now we can see a lot of realized losses recently.
This has been a record 7.3 billion dollars in realized loss over the last few days, showing a lot of people are just selling, no matter the price theyre. Just trying to get out and stop the bleeding miners are also accumulating again for the first time in a bit you can see back in april they started selling selling prey significantly and the price followed down now that the price has fallen even more theyre accumulating and Holding which is a good sign, just less selling pressure overall in the market tether also were going to talk about celsius and solana. Here in a second but tether, says it is preparing a full audit, with a top 12 firm to provide more transparency on its usdt reserves. This is good. I mean a lot of people are worried about tether overall because its a 68 billion dollar time bomb, at least thats. What a lot of people think, because a lot of people think its just a ponzi and that they dont actually have the money there. Hopefully, if, if this top 12 firm confirms that they actually have a significant amount of reserves, that will make some people feel better, i know that theyve done some things in the past with audits and then just never fulfilled it. So hopefully this goes through and goes smoothly. Obviously it will take time, but with u.s regulation coming, this will be nice to see that they actually have some money there.
Now, moving on to celsius, a lot of people have been asking me to cover celsius recently, im sure that there are some people on the channel that have money on celsius. They say here. This is just as a 14 hours ago its been one week since we paused withdrawals, swaps and transfers. We want our community to know that our objective continues to be stabilizing our liquidity and operations, as has been a priority since our companys inception. We maintain an open dialogue with regulators and officials. We plan to continue working with regulators and officials regarding this pause and our companys determination to find a resolution. We are pausing twitter, spaces and amas to focus on navigating these unprecedented challenges and seeking to fulfill our responsibilities. To our community, acting in the interest of our community remains our priority and we will continue to work around the clock. Obviously, this has been a tough time for everyone with money on celsius. They cant really get into amas and twitter spaces. I think just for legality reasons or just because uh theres a lot of liability if they say something theyre not supposed to say so, theyre just pretty much cutting off communications, except for really scrub, through blog posts and probably some tweets as well its a tough time. But hopefully they can get through this just for everyone elses sake. Now, if they fall, i think the market will fall as well a bit, but i dont think it will be as devastating as the luna collapse and i could be wrong, but i dont think it will be necessarily that dramatic, uh dramatically bad for the overall market.
Now the digital asset fund flows – weekly report usually comes out on monday mornings, but with the holiday. I think it will be pushed back a day ill cover that as soon as possible, though, and that will show what institutional investors are doing, you know what kind of funds are reallocating and then moving on to solana. We have some interesting news on solana and this is really interesting, because salon is actually up significantly on the last seven days. We have some news. This is really yesterdays news, but there have been some updates. Solind invalidates solana whale wallet, takeover plan with second governance vote. So just a little background, silent allows you to uh, do some defy on solana and basically there was a whale that deposited 170 million or so in solana and took a loan against it over a hundred million dollars. Now the problem with this is that whale gets liquidated on a salon position if it falls below about twenty two dollars now weve fallen to about 25 and some change on solana before, and this could cause a lot of problem for the market. A lot of people think that there would be a total meltdown on solana and that it would drive the price to zero, now, im, not sure about the price to zero, theres, still a 12 billion dollar market cap. The liquidation would cause about 170 million dollars of solana now to be liquidated. That obviously, would push down the price and theres just not a lot of liquidity in the system, but its hard to know exactly how much it would fall and when buyers would come in and that kind of thing now what solid wanted to do was they created A dow to vote and actually take over this whale wallet, which would hopefully be able to stop the price from dropping on solana.
The problem is thats, not very decentralized. Is it a lot of uh these different later ones, pride themselves on being decentralized, thats? The whole point of cryptocurrency right so going in and taking over a wallet and controlling someones funds, really hurts that argument that youre decentralized, so they had a second governance vote that invalidated the last one and now theyre looking for some other way of of trying to Protect investors, besides just taking over the funds, so this is a bit of a problem, obviously theres some risk of solana falling dramatically, and the interesting thing is. This is coming at a time when solanas up 18 in the last seven days. So i was looking at this and i dont like to sell in and out of cryptos i pretty much held uh, all the top 20 cryptos or top 30 40 cryptos that i had held earlier and i hadnt really trimmed too many altcoin positions really just adding To bitcoin over the last few months i hadnt, like i said i hadnt, really sold any of them and tried to move into bitcoin more heavily. Now, with this i saw some potential downside and ive talked about this a lot over the last week or two that one of the biggest things you can do in this crypto bear market to make it through is just trying to not lose money like trying to Make sure that you move money off of exchanges that seem sketchy or like theyre in trouble, trying to make sure that you move in and out of positions if a cryptocurrency seems like its in trouble, especially after luna, a top 10 crypto fell dramatically.
I just wanted to protect myself a bit, and the interesting thing is like i said: salon is up 18.4 on the last 70s, while bitcoins down 22, so theres, a 40 percent difference, listen at a time too, where theres been so much fear that typically uh bitcoin And ethereum fall less than a lot of the altcoins, but you can see that the bitcoin dominance has actually been going down over the last week. We are up at 49 and now were down at 44.4, so i want to be careful. I want to protect myself a bit, so i did sell some. My solana and i really do like salon. I think they have a bright future, but in this kind of scenario, where we do have a massive price difference on the last one week – and there is something that could potentially be really bad for solana in the future and with the fact that nothings really changed. On the macro, its not like, oh the the fed started to lower interest rates again or theres some peak of inflation right. We just got over a really fearful time and we havent really seen anything change. While the markets are still going up. I did switch around some of my position. I did sell 50 percent of my solana and move it into bitcoin. Now i realize some people think im a flip flopper or something like that. Im, okay with some people disagreeing with me, but i still like salon over the long term.
If there is more of a problem, though, if this seems to escalate and it gets closer and closer to liquidation, i probably will sell more just because of the fact that again, the number one thing to do in these kinds of bear markets is to make sure You dont lose money and when theres a cryptocurrency that has a dramatic issue on the horizon and is still doing really well price action, wise im, going to trim a little bit of that position and heck. If i just have a little bit more bitcoin im. Okay with that as well, if we go back to all time highs, oh well, i trimmed a little bit my position, but i still have been buying a lot of crypto over the last few months, so im, okay with that as well. So let me know your thoughts on this underneath the video. Are you looking at trimming, your salon position? Do you think salon is crap? Let me know in the comment section down below. I really do appreciate it. If you guys want to know this kind of been from this kind of information a little bit earlier, you can check out the link down below to patreon. Thank you so much.