In the second half of 2022, Bitcoin prices experienced significant fluctuations due to market fluctuations. At the beginning of May, the price of Bitcoin was nearly 40000 yuan, but it subsequently experienced a sharp decline and had dropped to nearly 25000 yuan by the end of July
In the second half of 2022, Bitcoin prices experienced significant fluctuations due to market fluctuations. At the beginning of May, the price of Bitcoin was nearly 40000 yuan, but it subsequently experienced a sharp decline and had dropped to nearly 25000 yuan by the end of July. For the next five months, the price of Bitcoin fluctuated between 20000 and 30000 yuan.
Although the price manipulation game in the crypto market has been played to perfection, it has always been a secret publicly disclosed by market makers. But as the trial of whether SBF is guilty continues into a crucial second week, he, who was once one of the heavyweight market participants, has already had key witnesses and testimony in manipulating the price of Bitcoin.
Behind all this, it is the users themselves who pay the price for it
Caroline Ellison, CEO of Alameda Research and former girlfriend of SBF, provided numerous testimonies during this week's FTX criminal fraud trial. According to Caroline Ellison's latest testimony and conversation notes with SBF, SBF instructed Alameda to sell off BTC obtained from FTX client funds,If Bitcoin exceeds $20000, continue to sell BitcoinTo stabilize Bitcoin prices below 20000 yuan.
Slowly eroding people's confidence in comparing special currency
Why would FTX want to perform such operations and actions? One view is that this may be for one's own benefit, by maintaining liquidity and offsetting losses from other investments.
According to YouTube DivXMaN (@ crypto_div), FTX may have encountered liquidity issues by gambling with customer funds. Therefore, maintaining Bitcoin's low price can ensure that they can better handle withdrawal requests under liquidity pressure. In addition, low-priced Bitcoin will also suppress the prices of other assets, providing higher upside space when they try to solve problems through trading.
Cryptographic KOLTumbleBit (@ 2040yyds) also expressed its views on social media: "The common method used by market makers on trading platforms is to raise Crypto (mainly targeting several Top20 currencies such as ETH) while suppressing the exchange rate of Crypto/BTC. This is not just FTX's own approach, but also the case with other trading platforms
TumbleBit Crypto . SBF BTC SOLAVAXFTT ETH .Behind all this, it is the users themselves who pay the price for it.
As for the benefits of SBF doing so, he continued:Slowly eroding people's confidence in comparing special currency Crypto Once users' trading habits are cultivated, they can smoothly dispose of a large amount of junk goods to lower level players These analyses have also been refuted by some community members, who believe that this is only due to the inherent volatility of the crypto market.
Wall Street giants may profit a lot from it
Since the beginning of this year, Wall Street giants such as BlackRock have applied for Bitcoin ETFs, relying on CitadelSecurities, Fidelity Investment, and Credit Suisse's cryptocurrency trading platform EDXMarkets to execute transactions,During the period when Bitcoin remained at a price of 20000 yuan, no one knew how many chips they had already hoarded.
KOL AutismCapital@AutismCapitalSEC ETF SEC ..
SEC FTX SEC .
Combined with rumors of the US government's crackdown on the encryption industry, known as' Operation Suffocation 2.0 ', by expelling native encryption companies and introducing large traditional companies that have formed partnerships with the US government,.
Behind all this careful planning, is SBF also a part of it?. FTX Alameda .
2022 2023 . 2023 4 .
Your keys, your bitcoin. Not your keys, not your bitcoin. SBF .
Disclaimer: The content of this article is sourced from the internet. The copyright of the text, images, and other materials belongs to the original author. The platform reprints the materials for the purpose of conveying more information. The content of the article is for reference and learning only, and should not be used for commercial purposes. If it infringes on your legitimate rights and interests, please contact us promptly and we will handle it as soon as possible! We respect copyright and are committed to protecting it. Thank you for sharing.(Email:[email protected])
