Effect of Tesla bitcoin sale not significant

[Oshosondy]

BTC price battles 200-week moving average after $930M Tesla Bitcoin sale

The market has been on the rise since sone days ago, now on the news that Tesla bitcoin sale is affecting bitcoin market price to be decreasing. I remember the time when the market was very buslish and any whales that buy bitcoin resulted to a great price rise. Also a time of the Chinese crypto crack down FUD and when Elon Musk announcement of Tesla not accepting bitcoin payment anymore, the price downturn was greate. I do not know why this time should be linked to Tesla that sold 75% of their bitcoin holding. The amount sold is large but no significant effect.

Elon Musk is anti bitcoiner and supporting just doge coin, people were thinking that this will happen, that Tesla will sell their bitcoin holding, it could be because of business reasons or a way to manipulate the market in the future, but it was good that Elon Musk sold this coin and not having significant effect on the market.

I do not know why the news are bringing this up, no significant effect at all.

[1714979515]

1714979515

[Upgrade00]

I do not know why the news are bring this up...

Clickbait to build traffic.

Many of the media houses today do not deserved to be called that as they only try to be as sensational as possible in their publications, without much attention to facts.
The general bias towards Bitcoin has also been negative, so I do not take gheyr articles seriously anymore.

[Lucius]

~snip~

There is little real journalism left, most of these scribblers are ordinary brainwashed mercenaries who turn every thought of their media gods into a sensation. When we read most of the headlines today, it turns out that Bitcoin suffered a massive blow below the belt because one man no longer believes in it - and the truth is that he stopped believing in Bitcoin even when he declared it a danger to the environment without even understanding what he was talking about.

On the other hand, this is another good day for those who for some reason do not like Bitcoin or want it to fail, but Bitcoin has long outgrown being dependent on one person, so their joy will be very short.

[NeuroticFish]

now on the news that Tesla bitcoin sale is affecting bitcoin market price to be decreasing

Since Tesla's sale off has already happened at least weeks ago (if not months), most have understood that this news changes nothing. Of course, some needs more time to understand that's old news.
Also.. we're still in bear market; I've said it not long ago that the recent rise can very well be just a bull trap.
And somebody has also said something interesting: literally anything can trigger the next sell off (not as news, but as pretext). Is it  the case? I don't know. We'll see.

We need more patience until we're sure the bear market is over.


PS. It was a big surprise for me that Tesla did buy high and sell low. I've been expecting them be smarter.

[OgNasty]

I do not know why the news are bringing this up, no significant effect at all.

You're kidding right?  Their sale set off the liquidations of Celsius, Three Arrows Capital, Luna, along with several other major players.  Even the mention that Tesla sold 75% of their holdings caused a further 136 million dollars in liquidations.  Tesla actually performed God's work here, making sure that when prices do rise, it isn't the degenerate gamblers with tons of leverage that get rich, it's the people that stayed the course and stacked sats in their own wallets.  That's why people are talking about it.  It was a big deal. 

[stompix]

Effect of Tesla bitcoin sale not significant

And you're looking now for the effects?
The sale didn't happen yesterday, that was the announcement that they did sell somewhere in Q2 which could be anywhere in the last months.
So it might have not caused a thing and it might be responsible for some of the drops we experienced, maybe even the crash from 35 to 30 was caused by this.

And before somebody comes with the OTC thing, the OTC is not a black hole where you can sell billions of coins and it will not affect the price, if somebody unloads 100k coins and there are no takers then they will have to go lower and lower like, in any normal market, OTC is not something that denies the laws of supply and demand.

Also a time of the Chinese crypto crack down FUD

Which proved to be not fud but as real as it can humanly be possible!

PS. It was a big surprise for me that Tesla did buy high and sell low. I've been expecting them be smarter.

They did sell 10% of the total somewhere in April 2021, so that was a pretty smart move making them about 120 million.

[Wilhelm]

I do not know why the news are bringing this up, no significant effect at all.

You're kidding right?  Their sale set off the liquidations of Celsius, Three Arrows Capital, Luna, along with several other major players.  Even the mention that Tesla sold 75% of their holdings caused a further 136 million dollars in liquidations.  Tesla actually performed God's work here, making sure that when prices do rise, it isn't the degenerate gamblers with tons of leverage that get rich, it's the people that stayed the course and stacked sats in their own wallets.  That's why people are talking about it.  It was a big deal. 

+1

Tesla gave the death blow to many bad actors in the crypto space.
Also it's strange they needed the cash and sold the dip, which is a poor business decision.
I believe there might be a bigger strategy at play here...

[BitcoinPanther]

I do not know why the news are bringing this up, no significant effect at all.

You have seen the drop of Bitcoin in the past week, it is maybe the effect of Tesla sales in the market.  Now that the sales is over, we have seen Bitcoin price regain from the dip of less than $18k to $24k.  So it does have some effect somehow but it is just a temporary one since Bitcoin is able to shrug its effect off easily.

[Sandra_hakeem]

I do not know why the news are bringing this up, no significant effect at all.

You're kidding right?  Their sale set off the liquidations of Celsius, Three Arrows Capital, Luna, along with several other major players.  Even the mention that Tesla sold 75% of their holdings caused a further 136 million dollars in liquidations.  Tesla actually performed God's work here, making sure that when prices do rise, it isn't the degenerate gamblers with tons of leverage that get rich, it's the people that stayed the course and stacked sats in their own wallets.  That's why people are talking about it.  It was a big deal.  

+1

Tesla gave the death blow to many bad actors in the crypto space.
Also it's strange they needed the cash and sold the dip, which is a poor business decision.
I believe there might be a bigger strategy at play here...

Yeah, but I don't think they probably needed the cash because they went bankrupt; IMO, I think that fat-ass Mr Tesla was only afraid of loosing everything as he usually panics, I mean why would anyone sell in a DIP? He's lost alot and the fear to loss gives way to more losses..maybe,when the WHALES gets to sink in alot and bitcoin bids for the top chart, he's just gonna realise that wasn't smart
Sandra

[mk4]

You're kidding right?  Their sale set off the liquidations of Celsius, Three Arrows Capital, Luna, along with several other major players.  Even the mention that Tesla sold 75% of their holdings caused a further 136 million dollars in liquidations.  Tesla actually performed God's work here, making sure that when prices do rise, it isn't the degenerate gamblers with tons of leverage that get rich, it's the people that stayed the course and stacked sats in their own wallets.  That's why people are talking about it.  It was a big deal.  

Not sure if I'd say that their sale is actually what specifically set off the mass liquidations, but yea they surely had a significant effect — pretty much like pouring gas on an already-burning building.

Definitely a well-needed cleansing though.

[Don Pedro Dinero]

Since Tesla's sale off has already happened at least weeks ago (if not months), most have understood that this news changes nothing.

It changed things when the sale materialised. The price of bitcoin was above $30,000 throughout May, and in June when Tesla sold, there was a clear drop from $30,000 to $20,000. What seems to have had little effect is the news after the fact, but the dump had a clear effect on the price drop.

You're kidding right?  Their sale set off the liquidations of Celsius, Three Arrows Capital, Luna, along with several other major players. 

Yes, it seems like a joke the way he puts it, he's focusing the question wrong.

[cryptoaddictchie]

I do not know why the news are bringing this up, no significant effect at all.

Someone has been commisioned to make a fud. As we can see the date of dumping of Tesla is quite earlier than today probably they dump at bit high gaining off some profits for that. Its quite obvious they are planning to drag the price bit more down to accumulate at a good entry using this kind of news which is quite irrelevant now to the current price. Nice try to fud but I do think they arent warranted by the general market as it speaks differently based on chart.

[NeuroticFish]

Since Tesla's sale off has already happened at least weeks ago (if not months), most have understood that this news changes nothing.

It changed things when the sale materialised.

Clearly. But imho that's not what OP was talking about.

he's focusing the question wrong.

Yup.

They did sell 10% of the total somewhere in April 2021, so that was a pretty smart move making them about 120 million.

But overall.. they're on a loss, right?
Somehow I feared they'll sell earlier the bulk, i.e. while they were still on profit, but the market was going down.
But, as some said, the effect now (i.e. in 2022) may have been much more devastating.

Definitely a well-needed cleansing though.

Indeed. And despite their announcements that they may buy bitcoin again, right now I hope they'll never do that again. We don't need this kind of investors.

[pooya87]

when Elon Musk announcement of Tesla not accepting bitcoin payment anymore, the price downturn was greate.

Actually the effects of that FUD was so negligible that you could have considered the movement as part of the daily fluctuations just like this recent FUD about their sale has practically no effect on the price whatsoever.

Elon Musk is anti bitcoiner and supporting just doge coin,

I disagree because he is neither. He is purely pro-fiat.

[mk4]

Someone has been commisioned to make a fud. As we can see the date of dumping of Tesla is quite earlier than today probably they dump at bit high gaining off some profits for that. Its quite obvious they are planning to drag the price bit more down to accumulate at a good entry using this kind of news which is quite irrelevant now to the current price. Nice try to fud but I do think they arent warranted by the general market as it speaks differently based on chart.

That's too much of a tinfoil hat take. News flash: news sites love to release whatever articles that gets a lot of attention, and Elon Musk related articles do get a lot of attention. Not everything needs to be fud/manipulation.

[buwaytress]

For something insignificant, some how merits people publishing and republishing the news though

Anyway, I never thought the Bitcoin buys ever budged the market beyond a few hours of activity only scalpers would benefit from. Same as the Bitcoin sells.

It's long-term and medium-term trends (volume) that matter much more than what essentially are drops in the ocean.

[Jating]

If I'm not mistaken, it's not like the went to the public and then sold. They have sold already months ago and this is why the price goes down hard, just one reason together with the Luna crash.

So when the news come out, there is no significant impact, we are just tired of hearing news from Elon Musk that all of us didn't bother at all with this news.

[Kelvinid]

I was just thinking it was an OLD FUDs that social media is bringing on the table, making the name of Elon Musk and Tesla known again.
I wish it brought something big but unfortunately, it deserves to be ignored and rejected, that is why the impact on the market doesn't even feel, people just thought about a normal price movement (up and down).

We just let them sell their Bitcoin as many people are willing to take it over and hold it, in fact, whales are waiting for it.

[Beparanf]

Clearly the the news doesn’t have longer effect on the current market but it surely give a sharp drop for a short period of time when the news was released.

Let me give some facts about this, Tesla sold there Bitcoin not by the time the news was released but around June when Bitcoin sharply drop from around 28K to 18K which clearly has a significant effect since we still don’t know if the current uptrend movement is a real bullish movement or just a trap.

[Lucius]

I disagree because he is neither. He is purely pro-fiat.

Totally addicted to green, in every possible sense and form, and maybe we would have more luck if by any chance the Bitcoin logo was green, when it doesn't help that more than 50% of the energy used for Bitcoin mining comes from renewable sources...