Forget the weak headlines about “quantum issues” or “Japan news.” The real story might be far darker — and far more strategic.
According to Delphi’s co-founder, Tom Lee’s view that the October 10 meltdown wasn’t random might actually be spot-on.
Here’s a more realistic scenario — something nobody is talking about loudly enough:
🔹 A major market maker crashed hard that day.
When that counterparty threatened legal action, the exchange had to dump everything with liquidity to cover losses — no exceptions. This wasn’t targeted selling — it was indiscriminate liquidation.
🔹 Early critics said: “If market makers lost money, they’d buy back everything quickly — altcoins should have rebounded.”
But guess what? Altcoins never did.
So what really happened?
👉 Market makers didn’t rush in to buy back. They knew that if the exchange started unloading BTC, altcoins get crushed even harder.
👉 So instead of bottom-fishing immediately, these players sat back and waited — letting altcoin prices get shaken out before re-entering.
That’s not panic — that’s arbitrage strategy on steroids.
The logic?
📌 When exchanges dump BTC, it usually triggers a cascade in altcoins first — the weakest get hit hardest, and deeper liquidity dries up fast.
📌 Savvy market makers exploit that by waiting for the bleed and only buying when the selling liquidity finally dies. That’s where profits happen.
And here’s the kicker:
Market makers know exactly when the exchange has finished selling.
Why?
Because they’re often the ones holding the backend claims — they literally see the flow. So they bide their time until the pressure eases.
In other words:
💥 The market isn’t just reacting to noise — it’s being strategically played.
📉 And the worst part? The indiscriminate selling appears to be almost over.
That means a rebound is not just possible — it could be imminent if this thesis holds.
(But remember — this is still theory, not official confirmation.)
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🔥 LATEST CRYPTO MARKET UPDATE:
Despite stubborn selling pressure, BTC and other cryptos are trying to stabilize. Bitcoin recently spiked higher after U.S. inflation data showed cooler readings, giving bulls a glimmer of hope.
But macro uncertainty — including delays in key U.S. crypto regulation — continues to weigh on prices.
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Bottom line:
This isn’t your typical “blame the news bots” narrative. What we’re seeing could be a microstructure-driven shakeout — engineered or exploited by the biggest players behind the scenes.
Whether you call it strategic selling, liquidity arbitrage, or market maker timing, the effects have real, lasting impact on price action.
