Bitcoin is seeing the highest volatility since you know when.
Zerohedge makes note that Lamborghinis - the car of choice for Bitcoiners - are sold out through 2026. That's for a new one. A one month old one will soon be half price with 100 miles on it. And what will they say about that? How about that war in Ukraine.
BTC has gone up 50% in just one month in an unabated back to back to back rise, only buying no selling, so when the selling starts, the whole foundation is rocked. Question is will this be just a small correction in its upward trajectory or is this a beginning of the halving process as it has previously demonstrated? If it breaks $60k to the downside, a second wave of selling is likely to follow.
What BTC does affects the equity markets. BTC takes comfort from a positive equity market to rise based on more speculation but when equity markets become volatile to the downside, BTC speculators and algos sell in tandem which causes equity market to get spooked and falling in line, creating this negative feedback loop as speculative money unwinds. A mini display of this happened in the second half of today's US market action. Then we hope that there is no one big party getting hurt that could result in margin calls and triggering collateral damage across.
