THE ETH DUMP | VITALIK + Celsius SELL $245,000,000

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Welcome back is vitalic butan calling the top as he’s selling ethereum well it’s not just vitalic selling but we’re also seeing a lot of other selling coming from the bankrupt companies of the past few years in the crypto space so we’re going to be discussing has

Ethereum hit its yearly top has it hit the prehab top where are the prices going why are we seeing all of this e ium selling and much much more as always this is the cryptoviser podcast we upload every single day on this channel to bring you the latest happening in the

Financial world so make sure you guys are subscribed to the channel give the video a free thumbs up and let’s get into this breaking news vitalic butterin sold $ million of ethereum after a transfer to coinbase is now sparking speculation vitalic butterin transferred 500 ethereum valued at slightly over $1

Million to coinbase this is part of a pattern following Bun’s previous transfers to exchanges in September and his assertion in October that he hasn’t sold ether for personal gain since 2018 whales and prominent uh whales and those prominent in the crypto World often find their transactions scrutinized by onchain Vigilantes tracking significant

Movements across various blockchains recently beran’s wallet has been active notably transferring 3.79 million in ethereum over a 10day period in September setember um now why is he doing this I don’t know he’s saying that he’s uh selling some of these coins which some are ether he’s also uh some

Of these like uh meme coins he sells as well and some of he says he does it for charity right and I don’t really care what he’s doing with his coins uh personally I don’t think anybody should be really that concerned it’s his money it’s his coins ethereum is widely

Distributed enough that he can make decisions to sell if he wants but here’s the deal vitalic seems to be able to call this Market at the top the bottom almost to a T and if we think about what vitalic and also the ethereum foundation have done historically is they sell the

Top of the market every single time and typically it’s at the end of the year we’ve seen this happening over and over and over selling selling selling but meanwhile the price of E ium continues to go up the price of Solana continues to go up now some of the Solana price

Movement may be due to the fact that there’s not a lot of selling uh compared to ethereum right ethereum is more widely distributed Solana there’s a lot of bag holders from the previous cycle where ethereum there’s still bag holders but it’s not to the same degree but we’re also not only hearing that

Metallic is selling because $1 million in ethereum is really not that much but new onchain data shows that Celsius the bankrupt crypto lending platform sold $243 million of ethereum in the past 30 days this according to Jed Bri the founder of Bri Venture Capital former managing director of Arena capital and

Former head of digital assets at Circle the issuer of the usdc stable coin he says it seems this is why ethereum has struggled to catch a bid in the recent runup at the end of 2023 but why is Celsius doing this he said he looked into the recent

Bankruptcy Saga to find out why now a prologue on X said we found that Celsius sold 243 Million worth of ethereum over the past 30 days this selling activity happened despite their initial plan to redistribute those assets in kind meaning they should not be liquidated for cash but what we’re you know there’s

Two things one maybe they’re going to liquidate to cash and then buy in another asset or they’re just liquidating to cash because this is how the courts operate right we haven’t seen seen really any of the courts saying you know give people their money back in crypto they’re saying give their money

Back in US Dollars and plus the legal fees for these lawyers who are dealing with the bankruptcies I think that FTX is bankruptcy is now overshadowing how much customers are owed or something like that like it’s really just so much money but anyway you can see 243 million in ethereum 3.1

Million in stable coins paxos gold chain link Matic and Avalanche have all been sold for about $250 million over the last 30 days now this ex ususer continued saying originally the bankruptcy bid for Celsius was one by Fahrenheit uh planned and they planned on Bitcoin mining and running an

Ethereum staking service but due to an SEC issue that bid seems to not be going through the backup plan is now that us Bitcoin or a mining company to take over their plan is to Simply keep the mining portion of the business running so why is Celsius selling $250 million of

Ethereum Mining Co is is capitalized by $250 million in Fiat while Fahrenheit was capitalized by $450 million in liquid crypto hence no selling imagine uh sorry this is an image from the legal motion down below you guys can pause this if you actually want to read it

We’re not going to read it on today’s video he said on the positive side since Celsius has already cleared the amount needed for Mining Company $250 million the selling pressure may be complete and ethereum could rip up over the coming months with the spot ethereum ETF narrative on the horizon

While ethereum selling seems unfortunate it may be over the ultimate goal is to return to Celsius customers as much funds as possible and I hope whatever Direction the bankruptcy goes that happens no one wants the Only Winners to be the bankruptcy lawyers I would agree and he says looks like Celsius is not

Done dumping their ethereum uh $7.4 million of ethereum was sent to coinbase a few hours ago that was on December 20th with another 9 a. half million ethereum locked and loaded ready to sell so they’re selling now this could be also because you know we’re at the

End of the year and they want to you know get this off for tax purposes or whatever I I I don’t I don’t I don’t know why they’re selling and I don’t really think it even matters why they’re selling the point is they’re selling and we know there’s a lot of selling

Pressure what does that mean well I don’t really know right I don’t really know but this is the way that I look at it right number one I I’ve been explaining to my viewers for months now that we’re going to have one more capitulation event major capitulation event before the Bitcoin

Having that’s my thesis maybe I’ll be wrong about that and by the way this is the cryptoviser podcast make sure you guys are subscribed to the channel give the video a free thumbs up it lets me know you guys enjoy this content and it is free to do just giving the video a

Free thumbs up so I don’t know exactly what this means but typically when you see a lot of selling going on there could be some SE some pressure on the price where the price doesn’t really move up now we’ve kind of seen that occurring right where the rest of the

Market a lot of altcoin and stuff are are doubling or tripling or quadrupling ethereum’s performance hasn’t been maybe up to par with those other assets you can see the year-to-date stats we went from October low of $1,500 to about $2300 so we went up uh about $800 which is about a 50% gain

Last three months or so 50% gain where like I just said Solana has gone up 10x right other altcoins have gone up significantly higher so a lot of this sell pressure could be uh you know holding ethereum from actually reaching its potential in this in this little rally that we’re seeing

But then what typically happens is when you see massive selling going on and then it stops you see a lot of volatility because remember there’s a lot of Bot trading and algorithms that are trading the market so if they see a lot or if they have constant

Selling going on for like a month right $243 million so that that’s gonna that’s going to fill a lot of orders that are on the books for buying right and then it just stops and there’s no new liquidity or new large chunks of liquidity entering the ecosystem for selling typically the algorithms will

Adjust and that adjustment can cause the volatility in the order books and then you’ll see prices move substant Al higher before they move substantially lower because um but again that’s a scenario that could play out on either side either the buy side or the sell side but you can also say

Well cryptoviser if the selling stops the algorithms are going to go much higher and they’re going to continue that sustained rally because there’s no more selling which is true but if the price runs up that could trigger more sellers to enter the market right so you may say I’m not selling till

$5,000 but a Trader may say when we hit $3,000 I’m going to start selling so they’re going to provide that extra liquidity that will then bring the price down but in the short term or medium term we may see a lot of volatility and much higher prices to the upside but

Typically when you see vitalic selling or ethereum Foundation selling it is an indicator we are topping out in the market and you can see I mean this is the all chart for ethereum so we we still we’re no nowhere even near the all-time Highs but if you look

At year to date since the beginning uh this is almost a one-year chart you can see that we’ve pretty much gone straight up throughout the year you know we’ve gone up leveled out gone up we may level out and then we’ll probably start to go up again but that doesn’t mean that

We’re not going to have short-term volatility to the downside um the other thing to keep in mind with vitalic is you know he called the top of the market in 2021 I reported this very extensively in around May or June of 2021 vitalic said the bubbles may have already popped and that didn’t

Make any sense to me but I reported on it because I said the fact that italic is saying this G urges me caution in the market and he was actually accurate that the markets did top out effectively the markets topped out in in February March time of 2021 but they didn’t really they

They had a parabolic runs right that last gasp for liquidity towards the end of the year but if you were out in the beginning of 2021 you probably were sitting really really pretty a lot of people say oh cryptoviser if you sell then you’re going to miss out on the rest of the

Market it’s like if you’re up 10x did you really miss out granted you could have gone to 20x or 30X or 40x but you locked in the 10% profit or that 10x profit right and if you didn’t lock that 10x profit in yeah you could

Have went to 40x but you could have also went to zero that’s the thing with the markets is you never know when the top is in you never know when the bottom is in until afterwards so you have to make those decisions in the moment based on the macroeconomic environment and for me

When vitalic is selling or vitalic is talking about the market topping out that’s something that I pay attention to and I would definitely uh recommend my viewers pay attention to it as well I’m not saying make your investment choices based on it but definitely put it in your investment

Thesis and strategy and portfolio so if you’re going to buy when vitalic selling is that really the right time to do it well that’s up to you these are your Investments these are your financial decisions you have to make your own investment choices based on your own

Research not on what I say or any other YouTuber for that matter let me know what you guys think about vitalic selling Celsius selling and uh where do you think the prices are going in the coming months let me know down below invest responsibly do your own research and as always crypto on