CRYPTO CRASHING DUE TO THIS (it's not over)

Market Analysis & Trends - The crypto market experienced a significant liquidation event in October, potentially the largest in its history [3][4][20] - Fundamentals, such as Ethereum stable coin volumes and application revenues, are currently leading price in crypto [4] - Bitcoin is consolidating, and a rally towards the year-end is anticipated [4] - The market is undergoing a distribution of Bitcoin from a few massive holders, resembling an IPO pricing process [12][10] - Bitcoin's volatility has decreased, and its correlation with traditional assets is lower, making it a diversification option [12][14] - Despite consolidation, Bitcoin remains above the 50-week moving average, currently around $103,000, indicating the trend is still bullish [16] Institutional Activity & Concerns - Onchain data indicates that clients of Binance and BlackRock are selling Bitcoin, not the institutions themselves [2][6] - Approximately 0.114% billion worth of Bitcoin was sold in a recent dip, which is less than 0.5% of Bitcoin's total asset value [2][6][7] - Wintermute, a market maker, is rumored to be considering legal action against Binance due to losses from the October 10th crash [19][20] - Wintermute experienced auto-deleveraging (ADL) at "ridiculous prices" on Binance, leading to potential legal challenges [21][23] Future Outlook - The United States of America is backing crypto as a new asset class, suggesting a positive outlook in the long term [26] - Clarity in regulations and the beginning of tokenization are expected to accelerate Bitcoin's growth [16]