Bitcoin's Flash Crash And The IMF

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In this video, I discuss yesterday's Bitcoin flash crash and possible causes, which include:

1) "Buy the rumor, sell the news"
2) An intervention by the IMF
3) Liquidation of leveraged longs
4) Insider knowledge of the SEC's attack on Coinbase's new lending product, which was revealed publicly by Brian Armstrong this morning.

Whatever the cause, sharp dips in Bitcoin are always good news for Bitcoiners with low time preferences who want to accumulate more.

Bitcoin is the honey badger of money, and even the IMF is beginning to realize that Bitcoin cannot be stopped.

Not investment advice! Consult a financial advisor.

$4 billion in Bitcoin open interest liquidated:
https://twitter.com/glassnode/status/1435341280574271493

Total liquidations:
https://www.bybt.com/LiquidationData

Shrinking open interest:
https://www.bybt.com/BitcoinOpenInterest

Bukele thanks IMF for the dip:
https://twitter.com/nayibbukele/status/1435263064933285898

IMF hates and fears Bitcoin:
https://www.reuters.com/business/finance/imf-sees-legal-economic-issues-with-el-salvador-bitcoin-move-2021-06-10/

https://cointelegraph.com/news/imf-issues-veiled-warning-against-el-salvador-s-bitcoin-law

https://twitter.com/IMFNews/status/1431799965521625090

https://decrypt.co/79925/imf-repeats-el-salvador-bitcoin-warning-country-launches-150m-adoption-fund

IMF is beginning to realize that Bitcoin cannot be stopped:
https://twitter.com/JasonYanowitz/status/1433439960443523082

SEC threatening Coinbase:
https://twitter.com/brian_armstrong/status/1435439291715358721

Ethereum highly dependent on Infura:
https://coinmarketcap.com/alexandria/article/ethereums-infura-iating-outage-revives-decentralization-concerns

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#Bitcoin
#BitcoinNews
#IMF

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