Anyone else a bit weirded out by the post-August price action, like you're standing on a glass floor?

[u/throwawaybankam]

I am genuinely all for a big pump and want this to be my lottery ticket too but I am still trying to wrap my head around what could explain such a strange set of price movements. Granted that in over a decade in crypto we are no strangers at all to strange price movements but I can't shake the feeling that even with such a big volume behind the two biggest coins on the market these movements look so unnatural since August. I could just be totally missing something very simple here so please correct me if that is the case.

[u/ChubyCat]

I think uncertainty surrounding AI and the ability to crack crypto algorithms is going to hamper crypto's price action. I think the buying was institutional though and they maybe think that it will be safe

[u/roitakesforever]

no

[u/Doctor_Fritz]

Before that pump in BTC, Trump posted on his truth social shit that it was time to buy all the crypto. Shortly after there was an announcement of bond buybacks which pushed crypto up as well. It was the culmination of a ton of fomo after the trump post and a short squeeze all rolled into one. The price movement here is not systemic. The push up triggered more fomo from ETF buyers, puching the price a little higher.

But then look at the current climate. Interest rates and inflation are soaring, making highly volatile tech holdings less interesting in favor of bonds. Yet, still crypto soared like this? It doesn't make sense. The S&P500 reached ATH at the behest of a handful of megacaps all tied to a circular self financing scheme leaning on AI infrastructure buildouts. The rest of the stocks on the US market are down 20% or so on average.

Pumptober created an uptick for a bit but it seems to me that whales are now looking to unload their pumped up crypto onto unsuspecting bag holders after a few months of (relatively) sideways movement. I think it'll dump after the elections beginning November.

this is my own opinion, not financial advice.

[u/DankShibe → u/Doctor_Fritz]

What uptober? It is worse than both August and September . Elections should result in a pump especially if August was the reversal that caused the bear market to end . (Although things should go sideways until we’re are near the halving )

[u/Patrick_Atsushi]

What is unnatural? What do you expect?

[u/TSL4me]

Nope

[u/otherwisemilk]

Market manipulation from desperate whales trying to find exit liquidity. It's all unsustainable.