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Saylor said last week’s plunge was an AI stampede. Arca fired back with one word: nonsense.
I don’t fully believe either side, but it doesn’t matter. What matters is who is buying.
What happened to the sell-side doesn’t matter anymore. Leverage got blown up, stop-losses got triggered, and institutions cut exposure. Everyone who should have run, ran. The only question is where the money that’s left will go.
On Sunday it shot from 60k to 64k, then pulled back 4,000 dollars in half a day. Today it’s slowly sliding back to 62.6k. The buy orders that chased in during that bounce are now quietly dispersing. It doesn’t look like bargain-hunting; it looks like shorts covering.
This is what you should be watching. It’s not about who sold—it's about who isn’t buying.
My plan: if it doesn’t dip below 62k tomorrow, I’ll take the first long position again. If it breaks, I’ll wait for 59k. If it doesn’t reach it, I won’t act; once it does, I’ll go in. If I’m wrong, I’ll admit it.