This sell-off on alts is effectively US investors being forced to sell Altcoins. There is very little difference between the US and China. Both have effectively restricted their residents from trading crypto. Except, for now, the US still allow $BTC and $ETH.
Binance and CZ have been selling spot Bitcoin at an alarming rate, to defend the $BNB $220 liquidation waterfall.
As spot Bitcoin is sold off, BNB is purchased, which defends the $220 liquidation but also caps the upside potential of Bitcoin.
It is a total house of cards.
As spot Bitcoin is sold off, BNB is purchased, which defends the $220 liquidation but also caps the upside potential of Bitcoin.
It is a total house of cards.
1 $BTC put into the $ETH ICO and held until today, would now be worth ~131 $BTC. This means since public availability, $ETH has outperformed $BTC ~131x.
Bankrupt Bitcoin and crypto exchange FTX begins process to relaunch the exchange.
Mining
Someone purchased this Bored Ape NFT in October 2021 for $3.4 million. Today, the highest bid is $57,380.
The buyer could have purchased this 120-foot yacht. Instead, they have a picture of a monkey.