Bloomberg's overnight headline here: "Elon Musk Loses 15 billion in a Day after Bitcoin Warning."
It's really about the stock price of Tesla going down, not about Tesla's net in the BTC market. Even Bloomberg is click bait now a days.
Yahoo Finance said (unequivocally) that BTC dropped because of the Janet Yellen (new Treasury Secretary) tweet that BTC is used for illegal finance. They showed on the daily chart right where she tweeted.
So are $100 USD bills, I might add.
I guess my point is that it's not about traders trading, it has to be bigger than that. The crypto market is much more like the commodity market than the financial market to me. Which is a lot about focus length. Traders trade, traders take profit (or limit loss) and move on.
So. I think the floor and the ceiling are both moving up, particularly if you look really long term. Like next month or something :)
Yeah, the world of "reporting" :)
And for more commonly. If I remember correctly, a lot of the CIA funding was from drugs back in the day - perhaps they are using BTC now - which makes Yellen's information insider trading ;D
Far into the future (like next month) things will look different again. The current dip is what, prices from a week ago?