tbh between like 64-80k ish who the fuck is going to sell
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Replying to @marenaltman
all crypto is basically a low float scheme, so if you look at it like a thin microcap equity, the possible sellers on a breakout would be whales who need a lot of volume to be able to exit, knowing they are unlikely to get enough buy volume if they wait for a down market
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Replying to @MidwestHedgie @marenaltman
This is absolutely true for BTC, esp when you consider how much is in wallets that will never sell. The "market cap" has no bearing on the effective liquidity
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Like, a lot of the hardware wallets from the really old school days of Bitcoin ended up in landfills or otherwise got lost and they have huge amounts. ~2.5 million BTC is in wallets that haven't transacted in 9 years or morepic.twitter.com/kwInf03MHA
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