The coffeezilla video talked about this a little bit and it seems like it was already still hurting from the UST and 3 arrows capital. Then FTX ended up blowing up even more of the liquidity that they need. However, I wonder how things will go and if they will be willing to sell GBTC to cover up the liquidity.
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Well the price action has been pretty depressing today. The bear is in full control. I want to be greedy while others are fearful, but I'm not sure we have bottomed yet.
I don't think we have bottomed yet due to the FTX issues. From what I see, we might need to wait a while longer until we see how many companies got impacted by it.
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