Yes

>>Glassnode co‑founders argue that the cryptocurrency crash is the result of a mandatory unwind by sellers.

Glassnode co‑founders argue that the cryptocurrency crash is the result of a mandatory unwind by sellers.

crypthub

about 5 hours ago

Mechanical Unwind Behind the Crash

Glassnode co‑founders argue the crypto downturn is not a narrative shift but a forced exit by a single participant, evident first in Bitcoin. Momentum tools show extreme values – MACD at an all‑time low and RSI near capitulation – without any macro stress, a pattern they label “mechanical selling.” This mismatch suggests a straight‑line dump rather than a natural market correction.

Consistent Time‑Boxed Selling

Since October 10 the sell pressure has followed an identical schedule, hitting markets at 9:30 EST on Binance and other venues with thin order books and no reflexive bids. Independent observers describe it as a sophisticated actor using smart order routing, likely a damaged liquidity provider reducing risk in a rules‑based way. Meanwhile ETFs stay net positive, altcoins and Ethereum show relative strength, indicating the pressure is not a system‑wide risk‑off event.

Short‑Lived Pressure and Expected Rebound

Analysts such as Tommy Shaughnessy and Tushar Jain see the activity as a violent, price‑insensitive liquidation that will not persist, as the seller’s inventory or mandate runs out. They predict the forced unwind will end quickly, followed by a sharper rebound than the decline. At the time of writing the total crypto market cap stands around $2.83 trillion.