CZ: It’s Crazy To Think $30 Million Sell-off Can Impact Bitcoin Price

• FUD has been circulating that a BNB liquidation event led Binance to sell off Bitcoin.
• Binance’s CEO dismissed the claims, saying the $30M sale has negligible impact on BTC.
• A crypto analyst argues the liquidation event is unlikely.

In a recent tweet, crypto analyst zkHopium addressed the concerns surrounding a BNB liquidation event on the Venus Protocol. The concern is that the anticipated liquidation has caused Binance to sell off Bitcoin (BTC) to safeguard BNB’s value.

zkHopium’s detailed thread addressed the claims and dismissed them as FUD. The CEO of Binance, Changpeng Zhao expressed appreciation for the comprehensive research. Zhao argued the irrational nature of the FUD narrative that had gained traction.

Notably, the focus was on the potential impact of a $30 million sale on Bitcoin price. Zhao highlighted that $30 million represents less than 0.001% of the daily trading volume of BTC.

Followed! Thanks for the detailed research to make this post. I learned a few things from it too.

Also, it's crazy to think a FUD of "$30m amount could impact BTC price" can get spread around…

That's less than 0.001% of BTC daily trading volume.

— CZ Binance (…

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