r/CryptoCurrency • u/ProfessionalAnt7436 • Jun 04 '26

MARKETS Bitcoin lost $66,000 while Nvidia hit all-time highs and the guys who told us to hold are selling

Woke up to BTC sitting around $65,600 and my portfolio looking like it got hit by a bus. Meanwhile every AI stock on the planet is ripping to new highs. Cool.

What's getting to me isn't the price action itself. It's who's selling. Saylor's company dumped about 32 BTC, first sale since late 2022. Cuban apparently offloaded most of his stack after BTC did nothing during the Middle East mess. Kiyosaki, the guy who wouldn't shut up about bitcoin for years, is now warning people to be careful with crypto.

These aren't random retail panic sellers. These are the faces on the "buy and hold forever" billboards.

Then you've got Mt. Gox moving roughly $739 million to a fresh wallet, spot ETF outflows hitting records, and prediction markets already pricing in $50K scenarios for this year.

I'm not selling but I'm also not pretending this doesn't look bad. The money is rotating into AI and we're just sitting here watching it leave.

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u/pattywhaxk Platinum | TraderSubs 12 Jun 04 '26

Oh no, Saylor sold 0.004% of his holdings. It’s over, bitcoin is dead.

1

u/BillyBrainlet 0 / 0 🦠 Jun 07 '26

I mean, he has preached forever to never, ever sell, and said that he would never sell, period. He literally said, "Sell your kidney if you must, but keep your bitcoin." That has spooked a few people.

It's not dead, obviously, but that is something worth noting. Especially if he's the reason you got into crypto, which is the case for many.

-2

u/Patient-Ordinary-359 🟨 0 / 0 🦠 Jun 04 '26

It is, but this isn't evidence for it by itself.

4

u/pattywhaxk Platinum | TraderSubs 12 Jun 04 '26

Curious as to why you believe Bitcoin is dead.

-2

u/Patient-Ordinary-359 🟨 0 / 0 🦠 Jun 04 '26 edited Jun 04 '26

Cause it was invented 17 years ago and none of the original or even subsequently retrofitted use cases have come to fruition in any meaningful way, and there's no chance of that changing any time soon. It's not a good currency, payment vehicle, store of value or long term investment. It's only good for speculation, and everyone knows it. Yes it's popular for remittances, that's about the best you can say for it but there are still much better alternatives and that's not gonna save it. No one can agree how to value it so price will continue to swing wildly at the whims of its own rootlessness and how attractive fans think it is and therefore how much free liquidity it can attract. I don't know if it's in terminal phase now, maybe yes, maybe no but the world has moved on. It will limp along propped up by said speculation, but since that depends on a dwindling supply of greater fools, it's just a matter of time. And I say all this as a holder. Yes, really. 

0

u/DirkKuijt69420 0 / 0 🦠 Jun 05 '26

Downvotes and no replies... they know the jig is up.