Bitcoin Forum

Have you see how dumping Bitcoin? If not you are missing red chart. Here is the reason why current dump happened.

https://cointelegraph.com/news/spacex-sold-bitcoin-acquired-2021-2022-report


You can see SpaceX sold $373M worth of Bitcoin. Elon is very harmful for Bitcoin as always. He always supports shitcoins that doesn't have any real value.

Thus is fantastic news, Musk needs to be removed from the ecosystem, or at least not have exposure through his companies.

Ir's an economically troubling time for most economies and has been for people for some time. Now that trouble is spreading up to businesses and corps. Selling bitcoin at 30k? Either SpaceX are struggling to fund a new project or their cash flow is weak - or both.

I'm not sure that's the main reason though. SpaceX news were published a couple hours ago, and the (flash) crash just happened, it looks like China's Evergrande filing for banckrupcy is what caused this?

https://www.reuters.com/legal/china-evergrande-files-chapter-15-bankruptcy-us-court-filing-2023-08-17/

I agree. If anything, Husk selling his coin is just icing on the cake. Or perhaps it is a panic sell of enormous proportions from his side, due to the Evergrande news? That would be hilarious. Either way, I see a good buying opportunity but I am not quite sure if we will bottom out just yet, so I will wait.

Although I do wonder about the dynamics of how exactly the bankruptcy filing of Evergrande pushed the Bitcoin price down. Anyone have an explanation?

The last time Evergrande went belly up in 2021 it prompted a selloff in riskier assets from the side of institutional investors. I am guessing this is happening again? I doubt the sell-off will be as large scale this time, since Evergrande was already basically a dead fish in the water.

The real news is that they were sold at a loss.
Did they had an urgent need for cash?

well, we have in the previous years, btc crashed so many times, and yet, it goes up again and again. this one will just be one of those hurdles and if you are weak, you may also sell at a loss. but do remember, even one big economy like China can't topple the bitcoin's narrative. and musk is just one entity. so yeah, even if we are seeing that btc is going down, but look at the change, it is not so big deal in my opinion. time to collect more satoshis if you have very good feeling that sooner this will go up again.

It is interesting that today there are two news related to the bitcoin crash.

SpaceX sells bitcoin holdings maybe this makes a lot of sense and the other news Evergrande China filed for bankruptcy on twitter trending with this news.

According to Twitter sources  (https://twitter.com/WatcherGuru/status/1692296550284738995)$769 million was liquidated from the crypto market.

Thanks for point us in the right direction  8)

I wonder why this event that happened first is buried alive and we all buying the story of Elon Musks involvement...and I must admit, anything Musk related concerning crypto/Bitcoin is always big news in our circles and I hate its become this way!

---

With X (twitter) the speculation machinery at his finger tips,  his unstoppable and maybe because he has too much time to spare...otherwise Musk has proved to be more toxic than we thought of him to be good for crypto in the past days when he was shilling dogecoin.

The article doesn't say when Musk sold his bitcoin. It only says that in the recent filing the company confirmed that they sold. The recent filing wasn't today! They had to sell then report it and then someone wrote an article about the report. Get it? This means that a drop from 31.8k to 30k was possibly them selling, but the crash below 28k wasn't.

I'd say these were liquidated longs that caused it. Maybe some Chinese investors were holding bitcoin and seeing a possible crash on Chinese stock market sold everything, including BTC. That caused a long liquidation cascade and here we are.

More cheap bitcoin! I'm fine wit that. Wasn't planning to do anything before the halving anyway.

Why hate to the business, it's a nature a business to buy and sell their investment assets. This is always what i'm saying regarding to Microstrategy, people are so hype when a business buys bitcoin yet become so negative when they sell as if they are not required to do that.

Well, i don't think its the main reason though as for OmegaStarScream pointed out, but i guess it's more on fud.

Thanks for the share up, i wasnt able to read up with the current news or events on the recent dump of Bitcoin which it did really hit up that 25k mark. Lots of sure who got liquidated specially to those who had made out some long position. Good for those who shorted.  :D

Im not really that too impulsive with these kind of situations about those sudden sells that do happen specially into those companies who had bought on earlier years.There's always an specific time that they would really be releasing those bagholds and would really be resulting that devastation in the market but come to think that having that -4k usd in price decline is really just like an ordinary condition or situation here on this space.
For those who had been dealing with this market for couple of years wont really get shocked nor get surprised with this sentiment.

Good time to bag hold more. Feel sorry for those who had been liquidated. hehe

That's why I follow that fool so I know what shitcoin I should buy in hopes that he will pump it and then I can profit from it and then buy myself more bitcoin. The insiders are probably making bank right now, especially those that was involve directly with the dump. To all the people asking if it's a good time to buy bitcoin right now, I think this event should be enough as an answer to your question if not then you're probably missing out.

My thoughts for real and that be, after reading the part of the referred document in OP which states as follows;


That's just a snippet from the original and you could with that colluded that Musk group after spending about $10.6billiom in expenses, they've got go reciter some or get some profits from all there investing.
The issue with them having to sell now is that  they sold when the market isn't in its full bloom as we hope this to happen next year but, you never can tell, it could be a dump to bug back strategy, Musk is good for it so, the game is on those that would follow and sell instead of increasing there portfolio. No point being impatient or entertaining fear here, know Musk and know how tricks, it ain't new.

Is that the real reason or someone took advantage of the news to manipulate the market?  spaceX just sold $373 million while bitcoin's market cap is over 500 billion, will that really seriously affect bitcoin causing it to be dumped more than 10%?  what I see bitcoin dumping shows that the market is still full of manipulation when people are expecting bitcoin to have a bull run, it goes against the crowd.  moreover, we always call to buy more if bitcoin is cheaper, why are we criticizing Elon when he is helping us? This is a good time to accumulate, that's all I see.

Elon is a cunt, he only supports his interests and his wallet. Obviously, Bitcoin can't bring 1000x profit like shitcoin, so maybe he's losing interest. I would honestly like this to be his final exit from the crypto sphere.

Things seem to be calming down. btw. According to Coinglass, over $866.73M million in liquidations have occurred in the last 4h. after all, this seems to have been some kind of stress test

Current price https://bitcoindata.science/api/localprice.php?coin=bitcoin&amount=1&currency=USD&hex=707070&bold (https://bitcoindata.science/bitcointalk-api.html#local-price)

That's not the reason!
Musk as in Spce x didn't sell coins now, it did somewhere in Q2 so that's at least  3 weeks ago and at most 3 months ago!

Rather than speculation about Musk this is far more realistic and more correlated with the dump:
https://www.coindesk.com/markets/2023/08/17/bitcoin-slides-to-283k-after-leveraged-funds-ramp-up-bearish-bets/


It's the whole market that's going down including stocks, it has nothing to do with some rumors about Spacex
https://www.barrons.com/livecoverage/stock-market-today-081723

It could be a combination of the two things all together, but anyway also the Evergrande news is not actually a news, they were pretty much already bankrupted but in a certain way the Chinese government decided to slow down the process since they already had economical issues (I mean slower growth). Anyway, as usual, any news is good to create FUD and make BTC dump, or at least they try.

Is there a way to check the validity of the source? I'm seeing quite a few users suggesting that it isn't accurate and that it's practically old news. Although even if that happened, I find it doubtful to believe that SpaceX caused such a major crash, as Bitcoin has been losing value in the past one or two days. This major dip today, however, has been the icing on the cake. I do believe, however, that if their coins were actually sold, it would deteriorate an already existing situation, as Bitcoin is currently trending at $26,500, something that I wasn't expecting to see. I'm frustrated if we're about to see a major downfall in the market for the remainder of 2023.

I think it is okay for any company to sell their assets, it will be good if bitcoin is not depend on any company. it is just my point of view but it seems that people are changed a lot. in the past I saw many people hope for mass adoption, now many people hope for big company to invest in bitcoin. the extreme volatility of bitcoin is still exist, it is good for trader. I hope it will not fall too deep. this is opportunity to buy btc at lower price.

When did SpaceX buy Bitcoin, I thought it was Tesla who did it, it is true that the two investments are for Musk, but they are completely different, and was the same action done by Tesla? $373M will not cause this change, as daily trading is around $30,926,828,624, and if we convert $373M into Bitcoin, we will find it 14,000 Bitcoin, not the amount that can cause a price move.
the reason for -9.65%, the price lasted for more than a month below 30k, and it is normal for it to decrease.

If they really did then yeah, most likely it's a loss for them or it could be just break even that's why they are willing to sell it now.
And if I'm not mistaken, Tesla also sold bitcoin before some of their stash of BTC.

So it's really crazy to think that if they really sold and what is the reason for it? Doesn't make any sense at all.
Or is this just another FUD created by some entity to pull the price down?

What a dump of price now that we are expecting a pump. Is it that these two news about SpaceX and Evergrand bankruptcy was the cause of the downward movement in bitcoin,if so it is very annoying. Someone like Elon should abandon bitcoin and invest on the Dodgecoin that he prefers so that we wouldn't have his manipulation on the market of bitcoin price anymore because he is only after making profit and does whatever he thinks will bring more profit for him as a businessman. Let's not see it as a bad news but rather an opportunity to accumulate more bitcoin by taking advantage of the price now.

Who even cares about that? Elon Musk's antics in the realm of cryptocurrency are an enigma wrapped in unpredictability. He's perennially armed with a trove of eccentric verdicts regarding Bitcoin and its digital counterparts. He hasn't even relinquished his penchant for tweeting about DOGE, a coin he pumped into the limelight years ago.

Even though his Bitcoin escapade might have ended in a financial fiasco, I'm quite convinced there's an ulterior scheme in the works, poised to churn out more monetary triumphs. His mastery in steering the market is a force to be reckoned with. Elon effortlessly wields the power to steer the tides of the market toward whatever end he envisions.

Ah yeah I just saw this and I was like ooooooh that's why it suddenly dropped to $25k lol. Got a bunch of people hanging off Musk's every word dumping now that they got wind that he dumped everything.


Unless they are strapped for cash its a terrible decision. But then again Musk is increasingly known for making terrible decisions, and that certainly applies to his actions in the cryptocurrency world. Probably better to get it over with now, Musk is just a market manipulator, a meme coin shiller, and kind of a loon the past few years. Obviously not good optics for Bitcoin that one of the few major corporate holders of Bitcoin just dumped everything, but at least the Bitcoin world can just leave Musk in the dust and leave him and the dogecoin fools to play with themselves.

Also I can't wait for the retrospectives the next two years as the bull market heats up, mentioning how Musk dumped under $30k whereas he could have made probably 4x to 5x if he waited two years. That'll be fun to see haha.

I don't know if it's fair to say that "Elon is very harmful for Bitcoin as always." After all, he is the same Elon who also contributed to Bitcoin's rise when his company purchased more than a billion dollar in Bitcoin in 2021. He also significantly contributed to it when he announced that his company would be accepting Bitcoin payments.

The statement sounds bitter, especially because we all knew this would eventually happen. This is the reality. That's why it is actually bad for Bitcoin's price when considerable amounts are focused in the hands of a few individuals or institutions only.

Today, we're all praises to MicroStrategy, for example. What will happen when the day comes when the company finally liquidates its Bitcoin holdings? Should we also be bitter to it, to Michael Saylor? Should we blame them for taking profit? Everybody does this.

I guess we should start realizing that whatever is bought could be sold at some point. We shouldn't be fooled that these investors won't sell. What's the point of investing, after all?

Well let's not go overboard and compare Musk to Saylor. Saylor is a huge bitcoin bull, Musk is a market manipulator. He started turning his back on Bitcoin within months of getting involved in it, and he has always been a meme coin shill. Musk has always promoted dogecoin 100x more than bitcoin. I mean will Microstrategy sell a little bit of bitcoin here and there when they need to...sure, they already have done that once. But Saylor is nothing like Musk. Musk does things for attention. Saylor actually believe in Bitcoin.

Don't know if this news is true or not but Good if Elon Musk sold his Bitcoin and bitcoin moved from weak hands to the strong hand.

Remember whenever anyone sells bitcoin, there is a buyer to buy it and this dump is a temporary one and may not last long. Think for a moment that bitcoin prices again reach the 29-30K range in next few days or weeks and then SpaceX would not have those bitcoins that they just sold.  Where will SpaceX stand then ?

Think Bitcoin reaches all time high in 2024 or 2025 and SpaceX will just witness the flight of Bitcoin regretting why they sold  8)

Exactly. And it is not only that, that is to say, it is not only the current and recent rise in interest rates, but the expectation is that they will continue to rise, which means that there will be less money circulating, less money to consume, to pay debts and to invest. It is therefore normal that in general the price of financial assets will fall, as is happening.

The bad thing is that with the title of the thread, there are going to be a lot of people who will keep commenting on whether or not the drop has to do with the sale of bitcoin by SpaceX, which happened some time ago.

My question is this.... Was Elon Musk very harmful to Bitcoin when he bought those coins and subsequently pumped the price? We tend to concentrate on the negative news, forgetting that he also helped Bitcoin by investing money into it.

SpaceX are burning money like crazy, so I think Elon Musk are selling off non performing investments to fund his projects that might yield higher profits in the future.  ???

That is precisely my fear when I hear news of institutional adoption of Bitcoin. With the kind of money they have in reserve, they can easily buy large quantities of Bitcoins and can have the power to manipulate the market even if it's for a short term.

My biggest fear is now BlackRock entering into the Bitcoin market. This is not going to be a good news for the crypto investors like me.

Uh-uh!

But, well, let's believe what we want to believe. Musk and Saylor are not completely the same, of course. Are they completely different, though? I don't think so. These huge capitalists are basically of the same feather. They have a penchant to sweet-talk people. They exaggerate things a bit for their own interest. Musk is much more a troll and tactless, though.

However, when Saylor mentioned, for example, that it would hodl its Bitcoin for 100 years, do you believe him? When he encouraged people, for example, to mortgage their houses and buy Bitcoin, do you believe him? Do you really believe that Saylor is willing to have his billions sleep with Bitcoin for several decades and do nothing about them? Do you completely trust this man?

Even among us here, how many of us so-called hodlers are truly willing to hodl our Bitcoin even after it hit $100,000?

And there is also news that investors have begun to transfer their money to other assets. For example, in government bonds, because there was an increase in interest rates. This was to be expected for the reason that there is no profitability recently from crypto tools. Bitcoin has been trading in a narrow price range for a very long time, which is not what you need.

Yes, Musk is also able to influence the market, but still he does what he wants. Nobody orders him. This is how it should be in this direction. Is not it? Why should he be excluded from the players? I don't understand.

He just playing with our psychological trading assessments.
Nobody know what the future lies but if Elon said something,  he surely can influence the market.

The matter only if we can resist his temptation or not

This could be a big reason behind Bitcoin price dumping so much. Where the price of Bitcoin was hovering around $30K suddenly the price of Bitcoin dropped to $25K. It is natural that the market condition will deteriorate if you sell so many bitcoins at once. Why did SpaceX suddenly sell 373M BTC when everyone is suggesting to hold Bitcoin right now? 

I think the market depends a lot on Elon Musk because when he tweets on his twitter page that he bought 300 million btc the price of btc goes up a lot, when the price of btc goes up a lot he sells his btc the market is back again Returning to the situation he buys BTC again at that time and waits for the price of Bitcoin to increase ie all this looks like he follows this method of selling BTC only for his own profit.

The whale that regularly manipulates the market is out of the game, although this is bad news for the time being, we may soon see Elon Musk back in the market with all the hype that comes with it. I am not a fan or anti Elon Musk, because everything he has affected the market has been both positive and negative.
When prices started dropping a few hours ago I was also online on several social media platforms, and there was a lot of bad news with the economy and not just Tesla's financials, so no it is necessary to strongly blame Elon Musk, it seems that panic is happening when the amount of long/short liquidation has reached about $ 1B, anyway we will still aim for a cleaner environment in the future, everything at present should be viewed lightly and towards the positive market.

Yes, in the short term, it hurts us but in the long term it is good for the bitcoin community. Elon and everything else related to him and bitcoin has to be purged out of the system. That man shouldn't be allowed to own 0.00000001 satoshi ever again if it could be done. They sold at a loss, it is their loss not ours. Doge coin or whatever shitcoin he promotes cannot topple bitcoin.

But we saw this coming. One year ago, they were already turning to the government for debt-for-equity rescue program. They also offered property and parking spaces instead of cash payments to investors and creditors. It comes as no surprise at all.

There is similar DIP in May 2021 after Tesla announced that they are no more accepting payments in Bitcoin. This is not a big dump nor it happened for the first time in history of Bitcoin. Such DIPs are a sort of nerve test and those who can withstand this pressure are the real winners in the long run. Whenever Bitcoin price goes down we hear such news which states that price will go further down. I urge everyone to just HOLD and don't pay much attention to FUD spread in the market.

He uses the shitcoins to profit himself only. He first buys the shitcoins when it’s price is worth nothing, then do some sort of fake campaigns to promote the coin. Once the coin gets enough recognition, he then sells it for almost 25x the price. This was done previously for the Doge also.
The reason for sudden dumping is still mysterious, maybe he planning to implement any other shitcoin with SpaceX and Tesla.

What proof that Saylor believes in bitcoin? In my opinion, Elon or Saylor or even president el salvador invest in bitcoin not because they support bitcoin but for profit. They are just like us, they need money, all the same. Just because Saylor hasn't sold his bitcoins doesn't mean he won't sell them in the future for a profit.

Moreover, we don't have the right to condemn or criticize anyone just because they sell their bitcoins, we have the right to invest in bitcoin and sell when it is profitable, why can't they? It's fair game, just because bitcoin goes down, our portfolio goes down, and we blame someone selling bitcoin, it just says we're scared.

Why not see this as the cheap bitcoin buying opportunity we've been waiting for?

Elon has done the stupidest thing of his whole life by selling $373M worth of Bitcoin at such price mark. I'm quite sure that he will cry when the market starts its bullish run during the halving event. Such a huge mistake by someone who has been in business for a long time, but it's always okay for the ones who are accumulating Bitcoin because we don't really care who ever sells their Bitcoin for low price because our main goal is to buy at dips only.

I know that due to bulk selling from SpaceX the price of Bitcoin went down, but I don't think that the price will remain at $26k mark because the future of Bitcoin is bright and within few days Bitcoin's price will recover back to $29k, and at that time Elon will regret his decision of selling his bitcoins too early.

Even if supports shit-coins every time he won't be able to change the fact that Bitcoin was always the king of the market and it will always remain in its position as the king. Elon, you've done a huge mistake by selling your bitcoins for such cheap rates. The ones who are buying in those bitcoins for such low rates might be laughing at Elon.

https://www.talkimg.com/images/2023/08/18/MZKZm.png
I will lean more to this chart of S&P 500 on the daily chart than SpaceX selling their Bitcoins (if they really did sell because some say they didn't).

We know that the price movement of Stock Market, and crypto are somewhat the same, and I believe that these is the reason why Bitcoin is going down during the last couple of days. Bitcoin is forming a falling wedge as well which is a bearish sign, and it did happen. I will not be surprised if Bitcoin will go lower than $25,000 this month knowing that Bitcoin really doesn't perform well in the month of August for the last 9 years or more. We'll see.

As for SpaceX selling, if they really did sell then I don't care. :D

He is not strong enough to move the price otherwise Bitcoin price would have seriously been harmed many months ago.
It's the bull charging backward like it used to do, before rushing forward to break a resistance. We are about to cross 32,000. So get ready.

Bitcoin can rise and fall anytime for reasons we might not be able to immediately fathom...and surely anyone holding BTCs can sell and then even buy anytime. I don't understand why there is that feeling of "hate" or resentment with people or organization who decided to sell their holdings for whatever reason...we must always remember that if Bitcoin will go down in price then we should be rejoicing because it is an opportunity to buy more...as we know that soon it will be rising again like legendary Phoenix.

You are right about one thing though, for someone who have been in business for a long time, you think he just do this because his brain is now old? C'mon, I believe manipulation is at play here, funny thing is I am not one of those who will make stupid decision because of what Elon Musk did, how many Bitcoin addresses do you think he has? This is pure manipulation, to make people lose money or make bad decisions.

Many traders got liquidated yesterday, millions was wiped out.

I am not sure Elon will cry selling this many Bitcoin, there must be a bigger goal for him to do this, believe me, he would make more if he invest this money into Dogecoin, he will just pump the coin and make himself even more richer, I am certain that this man has a plan, Elin is more smarter than just taking profits.

So what about this news? Which is the correct news for us to believe? I find it too easy for us to believe what the media writes and wants us to believe. Moreover, have you tried asking the question with only that 373M, is it powerful enough to make bitcoin dump more than 10% in a day?

It sounds like you don't like Elon because he's in favor of shitcoins, not bitcoin. But his selling bitcoin is not bad for bitcoin on the contrary, it is good for bitcoin. You should thank him instead of criticizing him because he gave you the opportunity to buy bitcoin at 10% cheaper than yesterday's price, and he is no longer a bitcoin investor.
https://i.ibb.co/8rpK5Xd/F3x-SAv3aw-AAe-EKo.jpg

Source pic: x.com

The cryptocurrency market is always changing and volatility is inevitable. Bitcoin has experienced great volatility in the past and has continued to survive and recover. A bear market isn't necessarily a bad thing, but it can create buying opportunities at lower prices for those who believe in its long-term potential.

The future of Bitcoin or the crypto market cannot be predicted, but it can be a wise strategy to remain loyal and patient in an ever-changing environment. Most importantly, always follow the principles of risk management and only invest money that you can lose without putting your personal financial situation in jeopardy.

My guess is that this s affecting to whole stock market, and bitcoin investors will dump their bitcoin to prevent getting liquidated in the stock market, in which investors are more seriously exposured to. And naturally alts are very sensitive when it comes to BTC movement. SpaceX has nothing to do with anything as in mentioned in this thread already they dumped while ago.

Funny how people were praising elon when his market manipulation was positive. It never was. And people should remember that he is not in your side, he is not anyone's side but his own.

What you said is what I am thinking, bitcoin price drop is not a bad thing, why should we fear and criticize Elon or whoever caused this? Those who are still in the market by now know very well that bitcoin is volatile and that dumping or spikes are a characteristic feature of it. It has happened a million times already, why are we constantly surprised and disappointed when it happens? People who feel frustrated or blame others make me feel like they don't have any plans for their investments.

He is indeed very cunning.
While many analysts were describing the chances that bitcoin's price would increase with the bull run, I thought something was going to happen to mess things up. The course of my thoughts goes to this obscure shitcoin enthusiast. In the end, what I was worried about about Elon Musk's figure was finally done even though the cointelgraph in his article could not confirm whether everything had been sold.

He doesn't care what happens other than personal gain comes first. Maybe that's what Elon is doing to cover the decline in profits experienced on Twitter.
Based on glassnode (https://twitter.com/glassnode/status/1692303134918598865), apart from liquidation, at the same time, the situation has resulted in a decrease in profit on the supply of bitcoin reaching 10%.

You are not a beginner, so it would be good not to add more fuel to the fire, especially with information that definitely has no impact on the price of BTC. If you read the post from @stompix, it is clear what caused the drop in the price of BTC, but also almost everything else.

Mr. Mars has long since become completely irrelevant to anyone who understands how much damage he has done to Bitcoin with his statements about Bitcoin having a bad impact on the environment. For someone who is supposed to be an intelligent man, such a statement placed him among the stupidest people in the world who are not able to do even the simplest research.

The fall in the price of Bitcoin is welcomed by other investors because they are really waiting for low prices like now.

This is an opportunity to collect more Bitcoins and it is. This is a good time to accumulate Bitcoin again after the recent deep downturn. So don't look at what big companies have sold a lot of Bitcoin that has caused the price of Bitcoin to drop drastically as it is now.

We must be more prepared by owning more Bitcoin, especially with a deep decline. Use this opportunity as best you can and be on time in accumulating or you will regret it.

SpaceX is a private company, so it is difficult to get a real confirmation.

It is why many bitcoiners have little love for him because of the big influence he has on the market and how he can occasionally and easily affect market price.

You cannot blame him for what he chooses to support and believe in. It is a personal choice always, the choice of cryptocurrency to HODL. For Elon, he has chosen shitcoins over bitcoin.

There were many complaints, many investors lost money and considered pulling out their investment. If any newbie investor in bitcoin in this forum is also considering taking same action, that is the wrong move to make. These kind of situations always happen in bitcoin, and dumps in price of bitcoin is what you need to be mentally prepared for always as an investor.

He has always been against bitcoin from the beginning, I never even have the idea that the company is in possession of such amount of bitcoin, which could cause this kind of dump in bitcoin price, in as much as he is selling to dump the market we can also look at it in another way; He might also have a hidden agender to publicly dump their holdings and cause a panic in the market and when the price drop fair enough He can easily/secretly acquire them back might even be more than what was previously sold in preparation of the next bitcoin halving coming forth. All this Individual and institutional investor's can go to some certain length just to achieve what ever they want in the market.

I would agree with you if we were starting with the accumulation phase, but taking into account that the new halving is expected of happen in a few months from now, abrupt dumps in price are more worrying than encouraging at this moment. And news about big companies selling millions worth Bitcoin is not the best news we can hear at the gates of a new cycle we all want to end in a new ATH.

I don't know whether this is the real reason behind the dump: we always need to make a story about everything, with causal links that give coherence to the facts, even if those are not real.

I’ll take it as this is just a short term setback for us. Elon Boy should better stay away from Bitcoin and the crypto ecosystem and not sticking his nose in this space again.

We did appreciated him back then last 2021 when BTC skyrocketed insanely but it was a dangerous parabolic curve that the Bitcoin bulls can’t keep up.

However, we can’t stop him from buying the dip though as Bitcoimn is open to everyone.

Yes, when we thought that he is out already in the market, suddenly we heard his name again and just like the previous years, it has negative effect on us.

Nevertheless, as you have said, this is just temporary effect on us, we can take this dip and nothing will change. Everyone is still looking to accumulate at this price. And we all know that we will have the halving next year so it's good to see the price going down again and so we can stash for more in preparation for the halving. As for Elon, for sure when we have our bull run, he will suddenly comes back in the market. But smart bitcoin investors and speculatiors knows that he can't influence the price unlike before.

He's always for the clout and uses bitcoin for his words to make look like that he's pro-Bitcoin. But on top of that, he's always for the profit regardless of what coin he's supporting.

It's no question that he's for the meme coins such as Dogecoin and also for his companies benefits before anything else. The market plunged every time there's news like this.

There is also a huge possibility that he'll just buy back and use all of those money to pile up and stock up again.

Everyone is entitled to their investment, and as such Elon Musk been a businessman is free to buy or sell his BTC without apology to anyone as an individual, but the only problem here is that he is a big crypto influencer, which millions of people are looking up to, whereby when he buys, they buys and when he sells, they follow sort and sell too, which I'm sure should be the main reason for this dump in price.

And that's a more reason for those who can afford to buy now to join in taking advantage of this low price of Bitcoin, as sooner or later, we are yet to see the price of Bitcoin bounce back after this fall.

if spaceX actually 'wrote down' $xxxm then where did they WRITE IT
i checked SEC filings.. nothing

seems someone wanted to post FUD without any source

its funny how all the media quote is other media.. where is an original spaceX filing

.. i do laugh when people blame elon for this price dip.. yet its not even elons words
even funnier.. spaceX didnt even acquire $1.5b in 2020-2021.. TESLA did.. totally different company

so whomever started the rumour didnt do any research or even fact check or get names correct or show sources

Yeah, i heard about it and also read about it too but the thing is this was not the only factor the whole market was manipulated by those baking systems and centralized authorities. And one thing I am unable to understand here is why the hell SpaceX sold that much amount of BTC when they could make more money if they would have held them for 1 year at least.

But still, there were 5 other factors that are also counted for this dump but tbh I do not know if any of these factors have anything to do with BTC price because I am happy that BTC at least moved its position. It became a stable coin for some time. Yeah yeah, I know many people lost money in long trades but what could be done now? High-interest rates and yield bonds are also a part of this dump.

Even the reason of Cryptovator is not the main reason of this downtime, and what you have said they all boiled down to whales selling off bitcoin in a large quantities which caused the decreasing of the bitcoin price at the moment. Yes as you said, the downturn is not only affecting bitcoin but all all other exchange market in the globe.

I still remember the time when the crypto community was dreaming and waiting for institutional investors to start investing in bitcoin, anticipating that this would allow the bitcoin to rise in price. But as you can see, it also has the opposite effect. When a large number of btc is concentrated in the hands of big companies, they can have a very strong influence on the cryptocurrency market. It would be better if bitcoin was distributed more evenly in the hands of the holders, following the example of decentralization, but this is not possible. Big holders will still remain and will create similar collapses in the cryptocurrency market. Don't forget that the MicroStrategy has a pretty impressive amount of bitcoin on hand, and as a commercial organization whose goal is to make a profit, they will one day start selling it. Let's see what effect this will have.

It's good that the collapses are temporary and the phenomenon is passing, and price fluctuations are beneficial for traders, indifferent to holders, frightening for beginners and a reason for discussion for those who watch bitcoin from the outside.

The current crash of the Bitcoin market has something to do with different factors and not just Spacex selling their Bitcoin.  I think it is the accumulation of factors like

1. China's economic crisis,
2. the Evergrande declaring bankruptcy on the US,
3. the selling of SpaceX of $373M worth of BTC,  (not fully confirmed because there is no tweet from Musk that confirm they did)
4. and the US dollar Index (DXY) is climbing.  

We all know that when USD gets stronger, its purchasing power increases and it affects the conversion of BTC to USD.

This stream may probably answer some of the questions why BTC Dumped:  https://www.youtube.com/watch?v=5F_ebxvOZm8

He's never been the linchpin of this industry anyway, I don't understand why people are sensationalizing his sells of bitcoin when he's lost all his internet cred from 2020. We really still that hungover from the past that we would relate to some clown on the internet who's trying so desperately to prove that he's funny? Going back to the topic, I don't think this is going to cause any detriments to bitcoin in the long run, he can sell all his holdings for all I care and the whole industry's going to work just as well as it did in the past before he stepped in and made people think he's the bitcoin jesus or something. I personally wouldn't let someone like Elon affect my buys or my sells, not even my mood. So why should the whole industry do so?

Still dumping Bitcoin. Right Now Bitcoin price touched $25620. Today near about 8% dump already. It happen for SpaceX sold $373M worth Bitcoin.They sold this big amount for urgent need. They Bought it fron 2021. Big impact created for it in total crypto currency market. Till now market continuously dumping. I believe SpaceX will buy Bitcoin again in low price. When they or Big investor buy Bitcoin then Bitcoin price will Stable and start to increase. And we have to wait for that.

OMG why are you repeating this stupid "news"?

If SpaceX sold, the reports of it happening were made public a whole day before bitcoin crashed 10%, so it wasn't the cause of the dump but the FUD and articles from various sources repeating this FUD without thinking were probably the cause of the crash.

Now think about it for a moment. Someone spreads rumors about Musk dumping, so traders short bitcoin and create panic. Every dumped bitcoin does not disappear - it is bought by someone. It's just that there's not enough standing orders to fill so the price goes down. There are people who want this to happen and buy cheaper. Have you ever thought that people buying bitcoin at 26k are people who had something to do with spreading this rumor?

Hold your coins, they know the ETF is coming and so is the halving and they want to make you give it away cheap.

It does appear that the dump happened a while ago. You bring up some good questions. Wasn’t SpaceX using Coinbase for their BTC purchases and sales? If so, wouldn’t Coinbase then be aware when the filings would happen that made the news public? This may not seem like a big deal, but it was also just reported that Coinbase has taken large short positions given their new futures approval. Maybe the drop was Coinbase profiting from their shorts and then pulling their bids to let the market crash for their own profit. Timing seems reasonable.

Haven’t Elon told us that he wasn’t going to sell the remaining coins? If he did sell then Elon lost so much credibility here. Or maybe he was forced to sell somehow. Either way it is a good thing if paper-hand Elon lost his coins to the people who really deserve then coins. In the end bitcoin don’t need Elon or any other billionaire. The billionaires need bitcoin. As long as the network works flawlessly, the price doesn’t matter much. Bitcoin works now just like it did 10 years ago. Fundamentally nothing has changed for btc. If Elon don’t want to hold anymore, that’s his choice. We should all respect his decision.

I have already seen from the start that Elon has no good plan for Bitcoin and he always like to do the odd things not minding the effect it could have on the market. Him selling his Bitcoin holdings is never a good idea and this had made the market to lose it current value.

Since Elon Musk joined the Crypto space, he had been doing different things and manipulating the market in his own way buy I am very sure that soon the market is going to gain resistance to such kind of market dumping. I see this as an opportunity for me to buy some more holdings even though the market looks very bearish now and it is very certain that soon, Bitcoin is going to be on the regular bull movement again.

The decentralized ecosystem offers a unique benefit: individuals cannot simply remove or ignore others, even if there's a dislike. This is particularly evident with prominent individuals, often referred to as "big whales," who wield substantial influence and act independently. Elon Musk, for instance, possesses significant personal and official cryptocurrency holdings, making it impossible to disregard his impact. He holds the ability to influence coin values by choosing to buy or sell, and his numerous devoted followers consistently heed his lead.

I doubt that it was SpaceX sale of it's Bitcoin holdings that caused the crash alone but it must have had a hand because the news must have been what prompted investors to sell over $1bn worth of digital currencies. This is really a bad time to make such huge sell offs considering as the market is a bit shaky and unbalanced and coupled with how influential he is, he'd sure put prices under pressure.
 Another possible reason to the sudden price dump could be a potential devaluation of the Chinese yuan which is trading at it's weakest since 2007.

If Musk / SpaceX were smart they should buy back what they sold and gain ~10% more
Bitcoin, then sell it again if they are so inclined when the Bitcoin market recovers by 10% again!
That would be a typical Musk ploy, to play the markets and everyone who follows him.

Anything Musk/SpaceX does will affect the markets temporarily, it would be the same
if any high profile person would do the same, its all very temporary though.

Elon is acting up again...no need to exaggerate, Elon is only a fraction compared to all bitcoin supporters, i really support Elon Musk selling all the bitcoins he owns ^{(let unstable humans stay away from bitcoin)}, without him the bitcoin price is actually very stable, apart from that the fluctuations in the bitcoin price so far seem reasonable, i instead seeing as this is part of the drama leading up to the next halving, let's bet that not until the end of this year, bitcoin price will cross $40k and maybe create a new ATH, who knows...

You may be right but I don't think that Elon will invest that money into Dogecoin in current market situation. I agree that this can be a very manipulative step from someone like Elon Musk and due to such manipulation many people with weak hearts will rush sell their Bitcoin holding. However, if someone knows the Bitcoin and such manipulations of the crypto market then that person will try to accumulate more and more Bitcoin in current scenario.

Elon might have thousands of addresses because he's most probably one of the whales of the crypto market and that's why it's somewhat impossible to know the exact number of addresses he has currently. However, if his main goal was to manipulate the market in a way that the traders would get liquidated then that's really unethical step from someone so reputable for his actions.

Let's suppose that if in current scenario Elon makes a decision to invest the $373M into Dogecoin then the price of that shit-coin will get boosted to very higher levels. Many new investors may begin to invest in Doge only because of the influence of Elon Musk, and that would be one of the worst decisions by those newbie investors.

However, it remains unclear to me how the message that SpaceX sold bitcoins belonging to it a year ago can affect today's BTC price. This is more like market manipulation and the WSJ article should be considered as a custom-made one designed to collapse the market in order to provide an opportunity for large capital to buy BTC at a reduced price.

It's definitely not the reason of the dump. SpaceX sold their coins a while ago, it only became obvious after the Q2 or yearly report had been published. Peeps in cryptoverse tend to overestimate Elon's influence on the markets.

More likely a new manipulation and some couple of sales to make the news become a FUD and wishing for the Domino effect that does happen.  I believe someone is playing on the market again using these bad events like FUD about SpaceX selling, then followed by several weak hands that heighten the effects.  Also comes the controversy about Evergrande and the rising power of the US dollar.  

What you stated really makes sense so I believe after someday there is a possible announcement of some company buying a huge chunk of BTC amidst the BTC dump event.

What, in your view, is the cause of the present market decline? Although even the sale of Bitcoin hasn't had an impact, news can exacerbate the situation. Remember, significant sales can naturally lower prices due to selling pressure, even before news is released. However, news amplifies fear, leading to panic selling by traders. Some traders seize the opportunity to benefit from the price dip. Feel free to share your perspective on the cause of the current market decline.

It could be anything, maybe it's just the time for a correction. Bitcoin cycles are still valid, and Bitcoin historically can lose some value before the end of the year before halving. Just check out the previous cycles. As a hodler, I'm not really interested as it doesn't affect me.

Even if this happened at an earlier time, the announcement of the news, whether at that time or at any other time, will have an impact on the market at the time. And I am almost certain that this would not have had such an impact if Elon Musk had not been involved in the scene, as usual. Moreover, Elon Musk would not have taken this sudden decision unless he wanted to benefit from the decline in market prices.
Personally, I do not believe that this news alone is responsible for this sudden decline in prices because it coincides with other events, which can be summarized as follows:

So senior isn't it good that it's bringing some volatility in the market as volatility of the crypto market can be considered as the beauty of the market which brings some excitement and opportunities, if someone's go with the right decisions and quick management he can really enjoy such dumps or pumps.

Also as far as we all know it's temporary so why, it's making so much noise if Ellon really did it so what, as Bitcoiner if we think he made a dumb decision then HE is at a loss, not us. I think simply everyone should prepare himself or herself for every type of situation in the market and with some decent decisions and preparation just bring a cup of tea and some snacks then enjoy haha.

Last year there was also news about one of the Elon companies reportedly selling their bitcoins. And even then there was a drastic decline in bitcoin in the market. But even then there was actually no clear news that proved the truth of the information. And a few months later the Elon company announced that they still hold their bitcoins and haven't sold them at all. Which suggests that the news made about them is untrue. And now there is news that is almost similar when Bitcoin has decreased. In fact, the news came before bitcoin's sharp decline. And it was only after the publication of the news that a deeper decline occurred. Maybe due to panic in the market or something.

But the negative news isn't just about Space X selling bitcoin. But there is also news about one very large property company originating from China which has officially filed for bankruptcy, namely Evergrande. And yeah this adds to the panic in the market. But speaking of Evergrande, actually this company has been in trouble since a few years ago due to the company's debt swelling. So his bankruptcy is actually not too surprising.
What caught my eye was because of the rumor that Tether had an attachment to the company. namely about Tether's financial papers in Evergrande. I hope the tether is fine and doesn't suffer any losses.

For some reason, I didn't got this on my twitter feed. I no longer follow Crypto accounts maybe that is the actual reason however I was actually thinking about this. Elon bought Twitter and made it to X, so I was thinking that he might needs his funds back from other investments and Bitcoin being one of them. And now after 3-4 months of my initial thought, there comes the news. It's sad honestly and good too. We don't need any one person be authorized to pump or dump or manipulate the market. Let him stay with the memecoin.

I just don't understand why people listen to Elon Musk like he's saying something for their own good. He played everybody several times and yet people still follow him, I don't get it, it doesn't make any sense, why do you people even care about this guy? He has nothing to do with bitcoin, and he never did anything for bitcoin. If he wants to talk, let him talk, but don't listen to him.

Agree with you about this investor. We often hear news like this where big investors sell bitcoins and others buy them and in this way bitcoin can be fluctuated. Any trader can take any decision for profit. If Elon Musk thinks that he is profitable to sell Bitcoin then I think he was right with his decision. But I don't think it will have any bad impact for Bitcoin holders because Bitcoin is not controlled by a big trader. Soon Bitcoin will be bullish again. Holders will certainly welcome this dump as they will have the opportunity to purchase some bitcoins at a low price.

Elon Musk or any big business man like him should not be trusted. We should remember that they can do whatever they want only for their profit. Their strategy is hard to understand for ordinary investors.

Tesla is only one of institutional investors that have bigger capitals than retail investors so any activity from those institutional investors will cause more effects on the market, from news, fud to price and trading volume and sometimes their buying or selling can trigger massive crashes on the market and forced liquidations on centralized exchanges as well.

Because this market is very volatile, to prevent being killed by forced liquidations, we should avoid Leverage and Futures trading. With Spot trading, nobody can liquidate our capital but remember Reminder: do not keep your money in online accounts (https://bitcointalk.org/index.php?topic=5421039.0)

There is already evidence that SpaceX sold those bitcoins in Q1 of this year, not that they sold them now and caused a dumping. Second, Evergrande's demise is not surprising as news of the company's default has been circulating for months and it is only a matter of time before the company files for bankruptcy. I also tried to find out what was the real reason for the sharp drop in bitcoin but to be honest, there was no news of interest. This reminds me of what happened in March when there wasn't any positive news, but bitcoin quickly went up from $17k to $30k. What I'm thinking is that the market is being manipulated, and we're being led by the media with fake news. But it's quite funny that people keep blaming Elon for this drop, it seems like many people bought bitcoin at a premium and are losing money so they need to find someone to blame.

That's a dream for many for Musk to be out of bitcoin entirely but I remember people were really happy that Musk is in the bitcoin space when his company Tesla bought bitcoins and allowed bitcoins as a payment for their cars, didn't a lot was also happy because he's making the price of bitcoin pump in the last bull run. I think SpaceX is really struggling at funding and you're definitely right, their cash flow is weak iirc they have a rocket that have exploded.

This guy is such a loser, everything he touches turns to *hit. Look at Dogecoin, then Twitter. I wouldn't trust him a minute, this guy is the father of all lies. How come people don't realize it yet?

Even though it's simple to attribute Elon to each and every issue Bitcoin has, it's vital to consider the wider picture. The cryptocurrency industry is not characterized by any one person or entity. It's a vast, intricate web of agreements, notions, and novel inventions. The Bitcoin sold by SpaceX is only a minuscule portion of all the cryptocurrency trades that take place globally. Furthermore, referring to all other coins as "shitcoins" demonstrates a shocking lack of information. Will you attempt to remove the layers in order to view the greater picture? To comprehend cryptocurrency, which isn't a game, you need to know more than just what Elon tweets

While I agree that Elon is an opportunist and bullshitter that can't be trusted, I find your claim that he is a loser ridiculous. I mean, this guy is one of the richest persons in the world so I don't know how "everything that he touches turn the shit".

I mean, if that's really the case he would be bankrupt king time ago and instead his wealth just keep increasing.

Lol. Musk can be called anything, but I don't think loser is the most appropriate word, as you explain, I agree.

On the subject of the thread, I think that in the end it has been a combination of factors: the recent rise in interest rates and the expectation of further increases, the bankruptcy of Evergrande and this news about the sale of Bitcoins by Musk's company, which even if it has been known after the fact, it is another bearish news for the market. Like it or not, Musk has a lot of influence. If he were to announce tomorrow that he has become a Saylor style believer and bought lots of Bitcoin we would have a crazy price rise.

That's what I don't like with big people like Elon Musk, they easily manipulate asset prices as they like and don't care who is the victim. It's not just Elon Musk out there who has influence on Bitcoin it makes me worry that with the impact that SpaceX has made they are selling on a large scale. They do not understand the meaning of the uniqueness of Bitcoin because for him while profit is the initial target. Even though at the time of adoption it seemed to support the existence of Bitcoin, but after this we have to realize that having a large amount can easily do what makes other people lose.

What are you saying, is Elon a loser or are you a loser yourself? How can a loser become the richest man in the world? How can a loser run billion-dollar companies and have thousands of employees work for him? Meanwhile what do you have? I really don't understand why there are so many people who always like to speak badly of others while we lose to them thousands of times. To me, speaking ill of others only proves that we are failures and always feel jealous and envious when we see them more successful than us.

To be more precise, he does it for his own benefit, not for anyone else's, and there's nothing wrong with that. Because we are also for our own good, we are no better than anyone else.

I would like to ask, if any of us own a large amount of bitcoins, would we be kind enough not to sell them for a profit? Instead, are we going to distribute free bitcoins to everyone, or will we find a way to protect the market? No one is not greedy, no one is not for personal gain, don't try to be a good person when you have not done something good for others.

Idiot Musk is idiot, who cares? It is but a little pot hole in a road of wealth for those who are in the know (unlike him).
He now thinks he can play the altcoin game, well he can go ahead and burn his wealth in the process (again).
Musk sells? Cheap bitcoin! take yours while you can...

posi as if Musk was the first rich man to talk fud against Bitcoin, hmmpf. He almost lost everything at the beginning of SpaceX, simply got lucky. Of course making Paypal with another person was the real reason, but that simply allowed credit card payments thru email. So its an older/outdated method, which appeared when there was nothing like that to send money between peers. Sounds familiar? Difference is, his tool used the existing bank infrastructure while Bitcoin is independent. Which is why, Bitcoin is already worth more than Musk's fortune.

Plus it was sold last year.
https://www.investing.com/news/cryptocurrency-news/spacex-sold-373m-worth-of-bitcoin-acquired-in-20212022-report-3156924

Market data is not really positive, just as a sidenote: Money is never lost, it just changes hands.
So the billions cashed in go somewhere and most likely not just groceries. 

Elon Musk always thinks about his own interests.  He may or may not feel that Bitcoin is not going to bring him any good results at the moment and that is why he has sold all the Bitcoins he bought for SpaceX.  His focus is only on shitcoins like Meme Coin Doge, shiba inu. His actions have had a bad effect on the Bitcoin market. and in this chance maybe bitcoin can come to $20k. However, since this is not a major issue, it does not seem to have much of an impact on Bitcoin

Elon Musk has not done such an activity this time. He has done such an activity many times before.  He is a man of crazy nature and is always seen taking sudden decisions.  Like he suddenly changed the name of Twitter to X. And now he sold SpaceX's bitcoins. When he first got interested in crypto and started tweeting about Bitcoin and Doge, the price of Bitcoin and Doge skyrocketed.  But nothing much changes in his tweets now.  Because people are slowly giving up trusting him

Current update I found its not real about SpaceX sold $373M worth Bitcoin, its rumor only publishing by WSJ or watching guru and many people claim as FUD how to make many people are getting panic for selling their bitcoin assets. Based on source information publishing by OP I don't find with announcement or tweet from Elon Musk, actually he always announce to public when investing or selling his cryptocurrency assets exactly last several time active tweet when FUD and FOMO with Doge coin. 
I am waiting some one can show me direct link of Elon Musk tweet he has sold all bitcoin assets investment around 2021 to 2022 and its big amount to make many people get panic for selling their bitcoin assets. Looks worth with this FUD and right now our chance buy back when bitcoin still in dip price and seems difficult to get this chance for buying bitcoin and altcoin with lower price.

SpaceX selling all their BTC was just FUD and the other main reason for Bitcoin price dump was Evergrande filing for bankruptcy which was also FUD in the market and on social media. Many new narratives are emerging, but none have been confirmed as the actual reason for the BTC price drop. Now there was going in the social media that the pressure of open interest was so mush that it had to explode, that is why that the price of BTC has dumping.But so far, whatever new is available,it cannot be confirmed that this is the reason why the price of BTC has dumping.

It is obviously not the reason for the current dump. Dumps do not happen with these small amounts you think of. Selling 373 million doesn't mean anything, the market trades that much daily, we have people buying and selling that much anyway every single day. So believe me, this isn't the main reason. Sure it could play a part in it, there is nothing wrong with saying that this was one part of it, but saying it was the only reason doesn't make sense at all.

Plus, it dropped yesterday or the day before I am not sure, do we have a source that says space X sold it just as it went down? I do not see a source for it, we need exact date of when they sold in order to match that with what has happened as well in order to say it was them.

I understand that the amount in question might not be substantial in the context of Bitcoin. However, I'm curious about the specific reason behind the sudden decline. There haven't been any other negative developments during this decline period. Even though the amount isn't significant enough for SpaceX to sell off their Bitcoin holdings, the news alone has had an impact on the Bitcoin chart. This phenomenon is driven by what's commonly known as FUD (Fear, Uncertainty, Doubt). When news like this emerges, it triggers a FUD response, causing individuals to become concerned about their holdings and prompting them to sell in order to liquidate their assets. This is the primary reason behind the decline.

Evergrande's bankruptcy for sure plays a way bigger role in this situation than SpaceX selling that small amount of bitcoins. Probably many people got scared because they expect that Evergrande's default will bring down also the Chinese economy and it'll have worldwide repercussions, hence the global economy will slow down.

How can you demand that a man with his own hard earned money be removed from the ecosystem? Are you buying Bitcoin for the sake of others or for your own sake? We are not the ones responsible for telling others when to dump their Bitcoin.

If you were Elon Musk you would have done the same thing, whatever his motive of dumping is Bitcoin will remain unknown and people like us have nothing but words upon words to say about why he dumped, thinking we have a clue, but we don't.

He works hard for his money, he has every right to dump when he feels like it.

Perhaps the best thing to do is to really not affected by anything that Elon Musk says or do specially if it has something to do with crypto.

Anyhow, we really don't know if it is really Elon Musk or his Chinese doppelganger Yi Long Ma who sold their bitcoins recently to caused a huge crash in the market. and so there are a lot of speculation right now,  perhaps it could be a series of economic reports (including rate-hike pressure) that really dampen the market as well.

He is an investor like us, and we have the right to sell bitcoins for profit, so why can't he? Too many people envy his success and they get annoyed when he does anything. That is preposterous.

There has been some analysis indicating that the news is fake, Spacex has been selling their bitcoins for a long time. But even if they sell those 373 million bitcoins, it won't cause such a large drop in that short period of time. As a crypto investor, don't be easily convinced by what market makers want to show us, do your research before believing anything.

He is the number one richest man in the world and has millions of followers on Twitter so he can do whatever he wants and he does. he either buys bitcoin or some other shitcoin and his followers invest in them along with him and he sells his crypto holdings when he realizes the opportunity.  In this case, he does not have any kind of loss, all the losses are innocent investors. Because of this, short-term trading in crypto is becoming very risky.  Now it is very difficult to earn profit without long term hold

There's another theory. According to one guy on Twitter some of the dump was binance selling bitcoin to buy their own token BNB to save themselves from a liquidation.
It's an interesting theory that most people aren't talking about. IMO CZ is a manipulator similar, or worse than Musk. I don't trust this guy even a bit.
Even if this isn't true, there's a lot of harm that can be done to the price of bitcoin by these shitcoin pumpers.

https://twitter.com/martypartymusic/status/1692368686261362920

There are really just those people who do have that kind of thinking that those investors shouldn't really be selling out their coins specially to those who had been holding a huge stash of Bitcoin on which they would really be having that kind of impression that they should be staying up into their position and doesnt really want nor like for them to sell out. Just like you have said that they are also investors like us on which they do have the full rights on selling out their coins without needing out permission on what they would gonna do with their coins whether they are on loss on selling it out or in profits, it all depends on them.

Its true that there are really that rumors that it was long time been sold or totally not relevant with the current value of those coins then it wont really be making out that huge impact on the price
but look at on where we are now? It is really that a huge -3 to -4k kind of decrease which we know that it isnt something  that big i would say but cant really be that denied that people
would be reacting with this kind of movement since we've been moving sideways for a long time and now the price had moved on this way which it do surprises lots of people and
some do really have that kind of assumptions.

it's just business. nobody cares about anything else :)

Indeed, I understand that it's a business matter. However, Elon Musk's influence on Bitcoin appears to be rather detrimental. People should have the freedom to sell their holdings, and attempting to prevent that might not be advisable. Nonetheless, his decisions have at times posed a threat to Bitcoin. For example, his acceptance of Bitcoin for Tesla followed by the subsequent announcement to discontinue Bitcoin payments due to energy consumption concerns has proven to be damaging. On the whole, his attitude towards Bitcoin remains largely negative.

Every one have freedom with their assets having want to sell or keep hold it, but its not problem when Elon Musk as Bitcoin or cryptocurrency influencer want to sell how much cryptocurrency assets the have because earn more profitable. One side, we has second chance if possibility or all rumor are trues with SpaceX sold $373M worth Bitcoin because available for buying back bitcoin in lower price. Its not problem negative or positive attitude when promoting Bitcoin depend how many time Elon Musk give controversial about bitcoin viewed, some time accepted bitcoin as payment currency for his company and another time announce will delist as payment. Elon Musk have big power with many follower having and twitter social media in his hand make it easily how to make people panic for holding or selling their bitcoin assets.

For all the Elon fanboys out there: he is still and will remain a loser. Being a loser has nothing to do with the fact that you are a billionaire, pretty sad to see many think being a loser means being poor :D It's related to how you behave and your character. The guy is a narcissistic liar which makes him a loser. Have a nice day everyone.