Posted on 11/21/2025 7:13:58 AM PST by Red Badger
As we joked earlier this week about the overnight Bitcoin dump – the “Korean Krypto Kamikazes“ – the selling has continued with no clear catalyst. The largest crypto asset briefly plunged to $81,569 and is now on track for its worst month since 2022.
BTC dropped as much as 6% early Friday to $81,569, while Ether and smaller tokens plunged into the abyss as risk-off sentiment hit both crypto and equity futures (market wrap). Bitcoin is now down roughly 25% for the month.
Nearly $1 billion in positions were liquidated during the overnight flush, stoking fears that the bear market could deepen. This forced selling comes despite a pro-crypto White House and rising institutional adoption.
Testing weekly 100sma
IG Australia analyst Tony Sycamore wrote in a note that the market “may also be seeking to test Strategy’s pain threshold,” referring to Michael Saylor’s Bitcoin hoarding firm.
A JPMorgan analyst pointed out to clients the potential exclusion of MSTR from upcoming MSCI and Nasdaq reviews.
Overall, the crypto market is certaintly gripped by forced selling, thin liquidity, and extreme fear – a market environment very similar to the last crypto meltdown in June 2022.
(Excerpt) Read more at americafirstreport.com ...
“but still don’t understand what defines bitcoin’s value.”
Very simple. The market determines its value.
They’ve almost finished their smart-money fleecing of the rubes for now.
“Very simple. The market determines its value.”
Sometimes the market isn’t very smart. I’m thinking tulip bulbs.
Bought some the other day after a big drop, bought more today.
For the skeptics, I am still one of you - but a little ‘play money’ might be worth the risk.
All of our money only has value based on perceived value, it is not backed by gold. I don’t believe it should be either....I don’t believe wealth should be limited by the amount of gold we can dig up from the ground.
Where do you keep all of your paper stocks in your 401k? Do you have them all in a safe?
Or are you fibbing and you DO actually hold intangible assets that only exist as 1’s and 0’s in a computer?
The only real difference between a cryptocurrency, like BitCoin, and our fiat Paper Money is, basically, the paper.............
“Or are you fibbing and you DO actually hold intangible assets that only exist as 1’s and 0’s in a computer?”
Research “intangible assets”.
“Very simple. The market determines its value.”
Ah, like the Pet Rocks and Beanie Babies.
After a $2 trillion loss, buy all you want.
It’s worthless.
Or tulips
According to AAABEST, it is something that you can hold like a piece of paper or IOU.
“According to AAABEST, it is something that you can hold like a piece of paper or IOU.”
Stocks are tangible assets.
The stock market lost over $11 trillion over a few days earlier this year. Is it equally worthless?
Where do you keep yours? In a safe?
Trump Media stock's taken a dump, thanks to the leaking crypto bubble.
Bitguns and bitbullets are much better investments.
“Where do you keep yours? In a safe?”
In my account.
Civilization is preserved upon the basis of two metals.
GOLD and LEAD.....................
That’s how they arranged massive payoffs for him and his family members.
You are 100% correct. It is just like those examples. And also like gold bars and federal reserve notes and diamonds.
The value of something is determined by what people are willing to give up to own it.
The next question is...."What determines if a thing will have people wanting to own it?"
This is much more complicated but a few qualities a thing can have are:
Rarity
Difficulty to produce
Limited quantity
Ease of storage
Ease of transmitting to others
etc....
When you look at these factors, Bitcoin is a little better than gold and diamonds and a lot better than Federal Reserve Notes.
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