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Could this pump be an exist liquidity grab for genesis lending

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@topworlds
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Coin republic

It is possible that the current price of bitcoin could be the result of an exit liquidity grab by early investors, also known as "genesis holders." These early investors may be looking to cash out their investments in the cryptocurrency as the price reaches new highs forcing the market into a bear market.

It is also possible that the current bitcoin price could be an exit liquidity grab for Genesis lending company as the market keeps pumping upwards without market correction after the announcement of thier bankruptcy.

However, Genesis filing for bankruptcy has removed a negative overhang from the market and allowed investors to focus on fundamentals of the Market traders look at the chats before considering if they should pick a trade. Bitcoin trader suggests that there is liquidity to grab around certain prices, with the biggest one being lower at $13.5k.

The trading and lending arm of crypto conglomerate Digital Currency Group, Genesis has already filed for bankruptcy within days, The Wall Street Journal reported late Wednesday, citing multiple anonymous sources. The group is in the final stage of paperwork prior to filing for Chapter 11 bankruptcy protection, the report said.The trading and lending arm of crypto conglomerate Digital Currency Group, Genesis is preparing to file for bankruptcy within days, The Wall Street Journal reported late Wednesday, citing multiple anonymous sources. The group is in the final stage of paperwork prior to filing for Chapter 11 bankruptcy protection. The fall of Luna, Three Arrows Capital (3AC) and FTX has dragged down crypto prices recently, so it is unclear if this could be an exit liquidity grab or not as genesis is giving the final blow too the market marking end of the bear market.

In the first quarter of 2022, Genesis originated loans worth more than $44.3 billion. DCG, its parent company, which is a big player in the crypto industry is likely to have a war chest of around $1 billion Genesis “buffer that kind of shock.”

Although bitcoin is now trading above the $20k region no one knows how long it will hold before it breaks down too a New low as the sentiment for a downtrend is still possible as sell off by genesis has not really started.

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