El Chap◎

So Binance-linked MMs have allegedly been trying to break Bitcoin below 80k for over a week now. And they haven’t managed to push it down significantly. Why? Because massive whales have been accumulating billions worth of $BTC throughout this entire period. Now here’s where things get very interesting. I believe the last straw for Binance was $HYPE suddenly attracting legitimate institutional interest and attention. We’re talking about a roughly $4B increase in market cap within just 16 hours, starting from around $20B. Do the maths. 20B + 20% in a single day. And all of this while Bitcoin refused to break down significantly. So in my view, Binance had two problems on its hands. Bitcoin refusing to break below 80k. And HYPE suddenly attracting dangerous amounts of attention. What followed? A swift market rug under the cover of an alleged hack. To cuck momentum. And this is where things get even stranger. A hack that was very conveniently contained by USDC and Tether. Maybe a tad TOO quickly for my taste. I’ve witnessed countless hacks in this space since 2018, and something about this one feels extremely odd. It’s not how North Korean hackers usually operate either. They typically manage to move a significant chunk of the stolen funds before anyone can intervene. Yet this time, almost the entire $2B was reportedly frozen within a remarkably short period. Interesting, isn’t it? Given the reach of international law enforcement, I struggle to imagine many actors capable of pulling off something of this scale and escaping the consequences, apart from groups operating beyond that reach, such as Lazarus. And if you think the official narrative automatically tells the whole story, that’s on you. In my opinion, Binance is doing more harm to this industry than good. And I believe much of that harm is deliberate. First 10/10. Now this. Market manipulation at its finest, if my suspicions are correct. SHUT YOUR MOTHERF*CKING EXCHANGE DOWN AND REMOVE YOUR CLAWS FROM THIS SPACE. I’m counting the days until the Trump administration is gone, because I believe the scrutiny surrounding these players will intensify significantly. And if wrongdoing is established, those responsible should face the consequences. Stay safe out there. Sincerely yours, Skully