Theories Abound Seeking to Explain Bitcoin's Latest Price Plunge
Whenever Bitcoin experiences a sudden, steep drop in price, numerous theories emerge on potential causes - from government regulation, exchange manipulation, whale activity, overleveraged traders, and Tether conspiracies.

From August 15-18, Bitcoin fell 12%, fitting a familiar pattern and prompting speculation on reasons by experts. But verifying specific entities influencing crypto prices remains challenging given the decentralized and opaque nature of the ecosystem.

On August 11th, analyst Ceni predicted sub-$29K Bitcoin, anticipating the SEC would delay its Bitcoin ETF decision. While partially accurate, the prediction lacked specifics on timing or support levels. Nonetheless, Ceni suggested BlackRock crashed Bitcoin ahead of its ETF, a claim requiring thorough scrutiny.

BlackRock Would Not Clearly Benefit from Cheaper Bitcoin
The notion BlackRock could profit from lower Bitcoin before launching its ETF is not straightforward. BlackRock has built its reputation on market stability, which sudden Bitcoin crashes undermine.

Prioritizing immediate gains over market legitimacy seems unlikely. Moreover, any perceived price manipulation could jeopardize ETF approval, which requires assessing risks. Building investor confidence also necessitates launching amid positive sentiment.

Blaming the Government Displays Oversimplification
Some blame governments for trying to strengthen fiat currencies via regulation. But government wallets hold little Bitcoin, limiting influence. Banning US stablecoins and foreign exchanges is complex, with unclear impacts.

Betting against currencies like BNB is also not simple, requiring borrowing BNB in unregulated settings. Additionally, exchange transparency pages offer real-time insights into holdings and activities.

In summary, while the true catalysts for Bitcoin's volatility may never be known, many prevailing theories gloss over intricacies or lack concrete evidence. The real drivers are likely far more complex.