๐จใDonโt be fooled by FTXโs โresurrectionโ! Mining firms are pivoting to AIโbut whatโs the big play behind it?ใ
Retail traders are still mocking the bankrupt estate for desperately throwing things at the wall, but smart money has already seen through the game!
Bitcoin is currently pulling back and hovering around $81,447, shaking out leveraged positions. FTXโs mining holdings have suddenly pivoted to AI, and there are two major plays behind it:
1๏ธโฃ Valuation rescue: Mining companies are moving into the high-premium AI computing sector. The liquidation team is trying to secure a higher sale price to plug the hole, completely dispelling fears of chaotic sell-offs in the secondary market;
2๏ธโฃ Changing hands: Institutions are exploiting macro sentiment to hunt for liquidity. The breakdown amid volatility is a deliberate scare tactic by the big players to force retail traders to sell at a loss. Donโt make the rookie mistake of chasing pumps or dumps at support!
๐ Follow @ๅ้ฉฌBtc for market insights explained in plain language for everyday traders. Every day, weโll break down the market makersโ playbook from an institutional perspective and help you avoid years of costly detours!
Bitcoin is testing support around $81,300. Are you scaling in on dips, or staying on the sidelines with no position? Share your entry price, and weโll review them one by one in the comments!
$BTC $ETH #FTX #AIๆฆๅฟต