So my personal read is that the cause of liberation day, all of the tariff of China shocked spooked everybody, kind of like a financial earthquake. A lot of investors sold their assets, simply out of fear. This includes bitcoin.
Bitcoin is interesting because it is the easiest to sell 24 seven. As a consequence, bitcoin becomes the first thing that is sold because it is so liquid.
For example if you want to sell your gold, difficult… And also things that don’t really make sense to me… The difference between owning physical bars of gold at your house in a safe versus holding onto like a gold token somewhere on the blockchain?