The Wolf Of All Streets The REAL Reason Bitcoin COLLAPSED? (Not What You Think)
Feb 6, 2026
They dissect a sudden $10,000-style Bitcoin crash and the extreme selling velocity behind it. The conversation focuses on how ETFs, futures and options can force hidden, mechanical selling. On-chain transfers and long-held wallets are examined as possible seller sources. Technical levels, miner dynamics and institutional headlines are reviewed alongside why layoffs can mark market lows.
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Systematic Selling Drove The Crash
- Bitcoin's plunge under $60,000 looked like systematic selling with no bounces, not a panic-driven dip.
- Scott Melker ties the velocity and high volume to a large entity or structural pressure pushing price down.
An OG Maxi Quit And Sold Coins
- Melker recounts an OG Bitcoin maxi who sold all his coins and quit, saying "Bitcoin is dead" due to synthetic supply.
- He notes tens of thousands of long-held coins moved on-chain into exchanges during the sell-off.
Derivatives Can Force Spot Selling
- Melker highlights options and futures growth as potentially central to price discovery and forced selling.
- He suggests blown-up option/futures positions can create systematic downward pressure that doesn't show as simple spot liquidations.