Binance And Wintermute In Cahoots? Pundit Shares Theory On What Is Driving Bitcoin, Ethereum Price Crashes

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Ah, the world of cryptocurrencies, where the plot thickens more than a cup of tea at a Parisian café! 🤔 A certain pundit by the name of Butcher has gone ahead and dropped a bombshell. He suggests that the illustrious Binance and the ever-sleek market maker Wintermute might be pulling the strings behind the recent Bitcoin and Ethereum price crashes. Could it be? 🤨 The October 10 crypto calamity, you ask? Why, these two firms might have had a hand in it, according to Butcher’s oh-so-revealing musings.

The Dastardly Plot of Binance and Wintermute

In a post that left the crypto world gasping, Butcher claimed that Binance and Wintermute have been running a game so devious, it would make even the most seasoned of stockbrokers blush. Apparently, in the last 30 days alone, these two fine establishments have exchanged a staggering $34.5 billion between themselves. 😱 How does this tale unfold, you ask? Well, Binance, ever the gracious host, sends off chunks of Bitcoin and Ethereum-ranging from a humble $10 million to a princely $100 million-to Wintermute’s wallets, just hours before every market plunge. A little premeditated, don’t you think?

Wintermute, in turn, graciously sells these precious coins to the market, sparking a grand cascade of liquidations. Voilà! Market chaos ensues. For the October 10 crash, Butcher claims Wintermute received a nice sum of $700 million from Binance, and shortly after, an avalanche of sell walls appeared across every pair. Cue dramatic music And then, as if orchestrated by a maestro, $19 billion worth of longs were liquidated in the blink of an eye. It was a beautiful catastrophe.

Now, dear reader, hold your breath-Wintermute allegedly bought back the very same coins at a sweet 30% discount. 😏 Binance, ever the clever fox, pocketed the funding rate fees, while Wintermute snatched up the spread like a treasure hunter finding hidden gold. This, according to Butcher, was no fluke, but part of a well-rehearsed strategy. A similar episode, involving a $1.14 billion BTC dump, allegedly occurred just last week, triggering a cool $1.16 billion in liquidations. It’s like watching a magic trick…if that trick involved billions of dollars disappearing into thin air.

And while all this drama unfolds, the prices of Bitcoin and Ethereum continue to spiral downward, with BTC dipping below $100,000 for the first time since June. ETH, not wanting to feel left out, also plummeted to a dismal $3,100, suffering a 10% loss in the process. Butcher, in his infinite wisdom, claims that Binance’s mastermind manipulation is solely to blame for this latest plunge. Retail investors, he insists, had nothing to do with the selling pressure. If only they knew how the real game is played! 😅

The Rebirth of the Market: A Hopeful Turn?

But all is not lost, dear crypto enthusiast. Raoul Pal, a so-called “market expert” (don’t you love that title?), has chimed in with a somewhat more optimistic outlook. He predicts that the crypto market will rise from the ashes like a phoenix-assuming, of course, that the U.S. government finally puts an end to its little shutdown drama. Apparently, that pesky shutdown has been tightening liquidity like a belt that’s been worn just a tad too long.

Pal is quick to remind us that global liquidity is still on the up, and when the shutdown ends (fingers crossed, folks), a great wave of liquidity will crash into the market. This could very well reignite the crypto flames, especially for Bitcoin and Ethereum. The Treasury, Pal suggests, could spend up to $350 billion in the coming months, fueling a renaissance of sorts. And let’s not forget, a weaker dollar is expected to follow, which might just give crypto the boost it needs. 🤑

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2025-11-05 21:24