Bitcoin Gold AI (BTC)

The core of the current coin market crash is not Michael Saylor

1. Saylor is merely a scapegoat in the narrative that drives retail investors into panic; a far more important supply‑demand issue lies behind it.

2. Veteran traders know that every Bitcoin peak has always been linked to the futures market… This dip also appears to be largely driven by changes in the futures market.

3. The 2017 bull‑run’s peak was also created as the futures market opened. On December 18, 2017, CME launched Bitcoin futures, and the price dropped 80%. The timing is spot‑on. CME futures became a gate‑way for institutional sell‑offs, an indisputable trigger.

4. In 2025, this rally’s peak was formed together with the ‘Genius Act’. However, this seems unrelated to the futures market. The legislation allowed stablecoins to enter the regulated system.

5. After the bill passed, the price did not immediately cascade into a sell‑off like the CME futures launch or Binance perpetual futures opening. Bitcoin showed a slight correction after positive news faded, then quickly set a new all‑time high, appearing to face no significant liquidity issue.

6. But abnormal phenomena were clearly observed from that point on. Articles kept appearing that Tether was being minted further; expectations for an additional rally grew, yet the price fell.

7. In October 2025, Bitcoin instead saw the largest position liquidation in crypto history near its peak, about 27 trillion KRW. It was larger than during COVID and occurred at a high rather than a low. Instead of Tether inflows, a crash erupted.

8. Looking at Tether dominance, on July 18, 2025 it formed a precise bottom and began a sharp rise. Since then, Tether dominance has surged by a staggering 108%. Where did all that money go?

9. The answer was revealed on January 28, 2026. That day Binance’s futures market unveiled a special futures product launched by CZ. It was…

10. "Tesla’s perpetual futures" began trading. Binance has a precedent from 2021 when it opened Tesla securitized token trading but was forced to abandon it after a regulatory crackdown by the US. Five years later, it circumvented regulation by launching the trade as a derivative rather than an asset‑type token.

11. After the legal status of USDT became clear (the Genius Act), and only three months after CZ received a ‘full and unconditional pardon’ from Trump in October 2025, this product was released.

12. What crime does Tesla have? None. Yet let's look at the price reaction of Bitcoin and Tesla after the listing. It shows the exact supply‑demand shift identical to the 2017 CME futures listing, leaving no doubt.

13. As soon as Tesla's perpetual futures trading started, the price fell 33% https://t.co/3cG6vjR7Yl

14. Afterwards, a series of US securities derivative trades followed. It’s a liquidity attack on the United States and an incursion by the semiconductor and AI sectors. In February, Intel INTCUSDT.P trading began. Nvidia and Palantir joined. Google, SOXL, QQQ also entered. The price did not drop. These products behave like altcoins that do not crumble in price.

15. This is the current supply‑demand shift in the futures market and the situation facing crypto investors. CZ sold coins to Trump. They are shouting a ‘super cycle’ in front, while Trump also talks about coins, but ultimately he was injecting liquidity into the US stock market.

15. Upbit's CEO Lee Seok‑woo resigned abruptly at the Bitcoin peak in May 2025 and left the country https://t.co/AGTrXpXbKZ