My conspiracy theory spidey sense says that Binance's move to prop up $BTC with their SAFU announcement was not because Binance is in trouble but rather because their friends and partners are in trouble and begging them to do something.
Most of this industry was built on a completely unsubstantiated "BTC is digital gold" narrative, and a lot of big players who tied their reputations and fortunes to this narrative are now eating crow.
I think the cabal will manually (manipulatively) start the "rotation into BTC" narrative themselves now that Gold and Silver are getting torched. Miners, exchanges, OTC desks, NYDIG, Blackrock, etc... all of them went all in on this "Digital gold" narrative and now they need to defend it.
I rarely make price predictions (and certainly don't care enough about Bitcoin to predict it's price)... but I'd be shocked if BTC doesn't have a massive candle higher this weekend/week to jumpstart that rotation narrative on the heels of Silver and Gold's collapse.

Binance
@binance
01-30
An open letter to the crypto community 💛
During periods of market volatility and pressure, the impact felt across the industry is naturally also felt by Binance.
As a global industry leader, we hold ourselves to elevated standards and continually improve based on feedback from

Sector:
From Twitter
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments
Share
Relevant content





