炒币心得
炒币心得
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🔔“Big Short” Michael Burry: Bitcoin Has Plunged 40%, Further Declines Could Have “Catastrophic Consequences” for Bitcoin Treasurys and Tokenized Metals Market Mars Finance reported on February 4th that renowned American “big short” Michael Burry warned that Bitcoin has plunged 40%, and further declines could cause lasting damage to companies that have accumulated large amounts of the asset over the past year. He believes Bitcoin has proven to be a purely speculative asset, failing to serve as a hedging tool like precious metals. In an article published on Monday, Burry pointed out that if Bitcoin falls another 10%, the most aggressive Bitcoin treasury firm, Strategy, will suffer billions of dollars in losses and will essentially be unable to access capital markets. He warned that the Bitcoin decline could trigger “catastrophic consequences,” including a spillover effect to broader markets and a “collateral death spiral” in tokenized metals futures. This warning came as Bitcoin continued its plunge on Tuesday, briefly falling below $73,000, erasing all gains since Trump's re-election in November 2024. Since hitting an all-time high in early October, the cryptocurrency has fallen by more than 40%. Burry adds that the emergence of spot ETFs has only exacerbated the speculative nature of Bitcoin, while also increasing the token's correlation with the stock market. Bitcoin's correlation with the S&P 500 has recently approached 0.50. Theoretically, when losing positions begin to grow, liquidations should be aggressively initiated. Since late November, Bitcoin ETFs have been setting some of the largest single-day outflow records, three of which occurred in the last 10 days of January. This trend suggests that institutional investor confidence in Bitcoin is waning, and ETFs, originally seen as a tool to expand Bitcoin adoption, may instead be accelerating sell-offs during market downturns. Burry points out that the decline in cryptocurrencies is partly responsible for the recent collapse in gold and silver, as corporate Treasurers and speculators need to mitigate risk by selling profitable positions in tokenized gold and silver futures. If Bitcoin falls to $50,000, miners will go bankrupt, and "tokenized metal futures will collapse into a black hole with no buyers."
🔔“Big Short” Michael Burry: Bitcoin Has Plunged 40%, Further Declines Could Have “Catastrophic Consequences” for Bitcoin Treasurys and Tokenized Metals Market

Mars Finance reported on February 4th that renowned American “big short” Michael Burry warned that Bitcoin has plunged 40%, and further declines could cause lasting damage to companies that have accumulated large amounts of the asset over the past year. He believes Bitcoin has proven to be a purely speculative asset, failing to serve as a hedging tool like precious metals. In an article published on Monday, Burry pointed out that if Bitcoin falls another 10%, the most aggressive Bitcoin treasury firm, Strategy, will suffer billions of dollars in losses and will essentially be unable to access capital markets. He warned that the Bitcoin decline could trigger “catastrophic consequences,” including a spillover effect to broader markets and a “collateral death spiral” in tokenized metals futures. This warning came as Bitcoin continued its plunge on Tuesday, briefly falling below $73,000, erasing all gains since Trump's re-election in November 2024. Since hitting an all-time high in early October, the cryptocurrency has fallen by more than 40%. Burry adds that the emergence of spot ETFs has only exacerbated the speculative nature of Bitcoin, while also increasing the token's correlation with the stock market. Bitcoin's correlation with the S&P 500 has recently approached 0.50. Theoretically, when losing positions begin to grow, liquidations should be aggressively initiated. Since late November, Bitcoin ETFs have been setting some of the largest single-day outflow records, three of which occurred in the last 10 days of January. This trend suggests that institutional investor confidence in Bitcoin is waning, and ETFs, originally seen as a tool to expand Bitcoin adoption, may instead be accelerating sell-offs during market downturns. Burry points out that the decline in cryptocurrencies is partly responsible for the recent collapse in gold and silver, as corporate Treasurers and speculators need to mitigate risk by selling profitable positions in tokenized gold and silver futures. If Bitcoin falls to $50,000, miners will go bankrupt, and "tokenized metal futures will collapse into a black hole with no buyers."