Why Bitcoin and Ethereum Are Collapsing Right Now

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Holy smokers folks for the last few hours here i’ve been watching the crypto market it’s absolutely collapsing i want to show you exactly what’s going on here essentially so bitcoin has broken 25 unfortunately that’s a number that a lot of people did not want to see broken essentially and um now a lot of people are thinking like the next real resistance is like the

20 range so that’s unfortunate ethereum is flirting with going under 1200 now and check this out just in a matter of like two minutes between this screenshot i took and then the hungry bowl which i went on right before that in a matter of those two minutes ethereum then dropped from 1229 to 1208 bitcoin dropped from 24 3 to 24.1 and that’s how fast these things are

Dropping right now where they’re just losing another percent two percent like a snap of fingers and um you know i’m going to show you what’s going on here it’s it’s very very scary and more than the price action essentially what happened here the email i received okay so we talked about bitcoin ethereum bnb down 12 xrp down 10 half percent cardinal down fourteen

Percent solana down almost nineteen percent dogecoin is at five cents now uh that went down 16 plus and it’s just um you know across the board like everything’s just getting devastating that crypto market so you know this email was sent to me actually by uh graham staff and i want to give him a shout out for sending me this essentially otherwise i wouldn’t have

This information he sent me this a few hours ago and i was like oh my gosh like if you want to talk about something that’s going to cause massive panic um for investors that’s it man that this this is the type of thing okay this is the email he received okay celsius which is a crypto company we’re writing a very important message for our community due to the extreme

Market conditions today we are announcing that celsius is pausing all withdrawals swap and transfer between accounts we are taking this action today to put celsius in a better position to honor over time it’s withdrawal obligations i mean guys you know that’s just devastating you know that’s the type of thing that causes panic like this is the type of stuff that

Honestly helped cause the great depression it really is um you know this type of activity where you know we’re you know you can’t get your money out we’re pausing withdrawals swaps transfers between accounts that’s devastating man that is absolutely devastating and that’s something that’s making everybody say what about you know my crypto broker or my crypto

Exchange i use and these different things right and everybody’s looking at that let me cover a few of the big ones that i know people actually use out there and and will address those okay because there’s a lot of these i don’t want to call them like sketchier ones but like these these ones that you know i don’t know if if you know bitcoin really was to go down

Ethereum was to really go down do you even get your money back like how does it work with some of these okay so let’s talk about a few of the big ones that i think you guys actually use okay ftx us and they just raised 400 million dollars a few months ago so i think they’re in a pretty good capital position nonetheless okay i think there’s a good amount of people

Out there that use coinbase and robinhood both of those companies are have cash loads to the sky like robin hood has like six billion dollars of just cash sitting around coinbase as a disgusting fortune cash around so in terms of having any of those sort of issues that are going on a celsius at ftx us or coinbase or robin hood i extremely unlikely however at these

Other sketchy ones i don’t know man i don’t know like like you know that that problem with celsius could be more widespread to some of the sketchier ones that don’t have big money stacks around like some of these other big guys okay and there’s a lot of people that do use some of these other ones out there so be very cautious out there this is the something that

Definitely causes panic in the market and um it could get worse before it gets better unfortunately but this is developing situation and i’ll try to keep you guys up to date i gotta go to bed though it’s like past 2 a.m but this is crazy i had to cover this for you guys i hope you appreciate me covering this for you much love as always futures are tanking we’ll