Elon got rid of Spacex's Bitcoins

[Drawdown Addict]

https://cointelegraph.com/news/spacex-sold-bitcoin-acquired-2021-2022-report

I guess many traders followed the news and sent the coin below the 25k mark.

From the article:

Since his $44 billion purchase of Twitter — later rebranded to X — in October 2022, he has suggested the platform could offer an ”entire financial world,” including banking and payment services.

What do you think? Will these coins resist the exodus of their divas? Will hodlers be able to hodl?

 

[NoahA]

From what I read on Twitter, this drop had nothing to do with Elon, but everything to do with CZ selling bitcoins like crazy in order to protect the BNB token. Apparently, below 212 I think it is, he gets a big liquidation. Some even suspect he is selling bitcoins in customer accounts.

This shit is getting interesting!

https://twitter.com/x/status/1692337575137104190

 

[Drawdown Addict]

Some even suspect he is selling bitcoins in customer accounts

Ouch! that will be a nasty one if they find out

 

[The_Krakenite]

I just threw in another $500 after-hours and bought some more blue-chip cryptos, and my first ever buy in Polygon.

Hoping for a deep blood-bath tomorrow, so I can get more once the equities market opens at 9:30 am

From what I have found out, a lot of people are selling crypto to go to cash due to the
China disaster that just happened. The fallout from Evergrade, etc. is going to start to hit home here. It's basically the China version of their Lehman Bros moment. Throw in the other China disasters this week in their numbers, and they hit the perfect storm...

 

[Tokenz]

Man, I was thinking about shorting, but it's already too late, we got support at the 25K level. The ETFs will be approved soon, and I definitely don't want to be on the wrong side of the market when that happens...

 

[Pekelo]

From what I read on Twitter, this drop had nothing to do with Elon,

For sure. It is NOT a hedge, market goes down, crypto goes down. Very simple...

 

[M.W.]

Flight to quality, but some under 40 just don't seem to understand this simple concept. Which by the way implies that cryptos are seen as pure speculative trash by large holders.

For sure. It is NOT a hedge, market goes down, crypto goes down. Very simple...

 

[The_Krakenite]

 

[Tokenz]

cryptos are seen as pure speculative trash by large holders.

Is that the reason they bought in the first place?

 

[The_Krakenite]

BNB is just under $216 this morning. I don't see any apocalypse.