Popular on-chain analyst Willy Woo says that the price of Bitcoin (BTC) is being suppressed by a political agenda.
Woo tells his one million Twitter followers in a thread that with futures contracts, it’s now theoretically possible to sell an “unlimited” number of Bitcoin even though BTC’s supply is capped at 21 million.
“The door is open for futures markets to control BTC price.
Now along comes the CME, they launched a BTC casino where you could front USD to play.
Wall Street hedge funds loved that.
What’s the limits on selling BTC now?
Unlimited. Fiat is unlimited.”
With the way the futures markets are set up, Woo says that big players now have the ability to suppress the price of Bitcoin, simply by putting