Bitcoin just crashed below 80,000, the S&P 500 and the Nasdaq closed at all-time highs and $100 million in longs got liquidated in two hours.
Before you panic, remember that volatility is a symptom of fiat. Not a flaw in Bitcoin.
You see, the entire market is a casino now and not because traders chose it. Because they were forced into it.
When the dollar loses purchasing power faster than any yield can keep up, the only way to preserve wealth is to take risk. So everyone takes risk. Everyone gambles. Equities, crypto, options, leverage - same scramble, different tickers.
Bitcoin is 35x smaller market than the S&P. The same flow that twitches the indexes 0.5% rips Bitcoin 5%.
So, don't let them convince you its Bitcoin's fault. It's a thermometer reading on a fever the Fed gave you.
