As we all noticed, BTC went to town recently, and Ive seen so many people asking why, and I think I might know.

Before we begin, this is my opinion, thank you for reading, and I’d love to see your opinion. Well let’s begin!

START

A few weeks ago, busd was in some poopoo and since it’s a stablecoin, the price stays the same. So whether the marketcap is 1 billion or 100 billion, it’s the same/near price.

Basically around 3-5 billion dollars worth of busd was taken out, and there’s a good chance most people panic sold it and just dumped it into BTC. And went back to sleep, thus the spike in BTC while the busd drama was happening.

MIDDLE

Exact thing happened to USDC, it lost a mc of 7.5 billion dollars, (I switched to usd recently, so this number might be a little off).

Where would that money go to? BTC, and then fomo kicks in, and it goes up. That’s why in 2 days it went up 15-20%.

END

TDLR: Stablecoin loses mc, money gets dumped in BTC, and market goes up.