Short YouTube explainer about Bitcoin market dynamics: speaker argues that market manipulation requires high leverage, notes large buildups of liquidity (open interest) forming since May, and describes a decision to remove liquidity all at once rather than leaving some for a bear market. The clip references chart levels ("90%", "5x") but does not include full numeric context in this chunk.
When it comes back to what you're saying, Giovanni, as well, about manipulation and all these things happening, yes, they all did happen. But remember, nothing can be manipulated unless it's highly leveraged. Because at the end of the day, you can't manipulate someone holding a spot bag. So what we are seeing is huge buildups of liquidity, which basically are open interest positions that are going to be for sellers at these prices, and they have been forming since May. The mistake that I guess we might have made is thinking that it was only going to go as deep as the 90%, which you can see here if I come back. And he wasn't going to go for the 5x. The reason we thought that it was going to leave some of this liquidity for the bear market. We decided to take it all out at once.
