No, BTC didn’t “crash” to 24k on Binance. This was a liquidity event. Binance and USD1 launched a 20% fixed APY deposit promo yesterday. 1️⃣ Many users swapped USDT → USD1, pushing USD1 to a 0.39% premium: huge for a stablecoin. 2️⃣ Smart money borrowed USD1 on @lista_dao against SolvBTC or SolvBTC-BTCB smart lending markets (~0.5% APY). They either deposited USD1 directly or sold it slowly on spot to meet demand. 3️⃣ Then someone thought: “Why not just sell via BTC/USD1?” They used a market order. Problem: BTC/USD1 has very thin liquidity. That market order wiped out most buy orders, briefly causing a very low price. Arbitrage bots instantly bought it back. No fundamentals changed. No mass liquidations. Whoever bought BTC at ~$24k — merry Christmas. P.S. This is just a small episode during bear market. We’ll for sure see many more of these. Bookmark this — it’ll be useful when the next “crash” happens.
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BREAKING: US Q3 GDP came in at 4.3% Expectations: 3.3% This is a MASSIVE growth in U.S. economy which is a good sign. This continues growth means ISM will grow and enter the expansion phase which has historically been bullish for crypto. The last 2 major Altseasons of 2017 and 2021 started when ISM was above 55. Now if you look at the chart, The last 3 GDP readings resulted in a 4%-5% short-term correction in Bitcoin but it always pumps back higher. In the mid and long term, the growing US economy means less risk of reccesion which is bullish for all markets.
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100$🎁 25$/4 Must follow @carlos_xblue Retweet 🔁 Comment + Sol adress End-at 700 followers
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