It could be China trying to keep feeding the Evergrande ponzi machine for a little while longer... holding out hope for that Great Reset to save their bacon.
The last time we saw this massive sell-off and a "crash" was back when their November payments were due.
If China is the major holder of crypto and is selling this artificial and completely non-real resource to cover other debt obligations, anyone buying it up and holding it is going to be left with a giant bag of dogshit in their hands.
$400 BILLION of various crypto liquidated in 2 hrs
It could be China trying to keep feeding the Evergrande ponzi machine for a little while longer... holding out hope for that Great Reset to save their bacon.
The last time we saw this massive sell-off and a "crash" was back when their November payments were due.
If China is the major holder of crypto and is selling this artificial and completely non-real resource to cover other debt obligations, anyone buying it up and holding it is going to be left with a giant bag of dogshit in their hands.
And wrapped in catshit...CDOs come to mind...