A lot of drama in the market at the moment. Genesis Trading lost a lot of money in the FTX collapse and needs 1 billion to be saved. Some are even saying that they need the money by today so this may be another company to go down👀 BTC
Grayscale, the biggest BTC holder out there refused to provide proof of reserves. They are claiming that this is due to security reasons but the crowd is not taking this nicely. A lot of doubt and rumors about their BTC backing are spreading around👀
While it is hard to say what is the truth, we do believe that we are slowly reaching the pick-panic mode as well as the bottom. While news like this would normally impact the price in a big way, we can now barely see a meaningful drop. In our opinion, this is extremely bullish.
That being said, we will stick to our plan and keep our rules (automated trades) in place for our strategies. No need to rush into the market as we could see another volatile week📉📈 Crypto cryptomarket
On Wednesday, also FOMC meeting minutes are scheduled so definitely an interesting week ahead of us. Monday, Tuesday, and Wednesday will be interesting👀
Lastly, on Thursday the markets are closed due to Thanksgiving while on Friday, the stock market is closing early. While the crypto market never sleeps, this will likely result in a sideways action at the end of the week🤔 cryptomarket
This post is based on this twitter thread.