Preface: This is a serial that went one week– Sunday, November 16 through Sunday, November 23. Note that if you see ‘time stamps’ indicating different days of publication, that’s a serial. I don’t know when a serial is going to end, until it ends and I find out about it. There is a lag between when it actually ends, and me finding out, because I’m not privy to the closed-door discussions of the financial & political elites who run the world. I can only know & understand them through the propaganda they disseminate, which must be carefully deciphered to be correctly understood by the kids & working masses. The financial elites have decided (by indicating a December Fed rate cut) that bitcoin can’t be allowed to collapse, as it was doing again this past week. This blog (which specializes in crypto criticism) chronicled the process, and since a new level of “stability” has been reached, this story is over– for now. That’s how this serial ends. Come find me again when the next bitcoin crash happens, it won’t be long now. It won’t be very long.
Bitcoin has had quite a roller coaster run since Trump was elected last November. Exactly one year ago, bitcoin was valued at $89,875.56 on Coindesk’s tracker. It was at $106,188.14 on January 20, when Trump took office for this second term. Trump launched his own crypto, held a crypto summit, and had legislation passed that gave legitimacy & bailout protection to the industry.
Bitcoin peaked at $124,714.85 on October 4, 2025.
Less than a week later, on October 10, President Trump announced an additional 100% tariff on China, on top of the 30% already in place, to be effective on November 1. Bitcoin has been dropping ever since. This, and the reduced likelihood of a December Fed interest rate cut has sent bitcoin plunging. Here’s a recent screenshot of the Coindesk bitcoin ticker over the last year.
Bitcoin now faces a key $94-92K support test, with any dip below that level threatening a deeper fall to possibly $70K (or worse) amid massive liquidity outflows. For some reason, the crypto industry has chosen this price level ($92-94K) as a key point in its development. It may take some time, since there is such strong institutional support at $92-94K, but when this level is breached, apparently there isn’t much institutional support below this level until ~$70-74K. If that happens, all but the biggest crypto whales in bitcoin will be wiped out.
The future existence of crypto is being tested right now. Crypto whales are burning cash (while secretly selling bitcoin) to keep bitcoin afloat, as small investors are being liquidated, while new investors are too few. The entire crypto market is in ‘Extreme Fear’ according to industry analysts. Crypto whale Elon Musk stated less than a week ago that bitcoin & AI were the way out of the US $38T debt. In fact, bitcoin is only the latest manifestation of a problem that has created such an unpayable mountain of debt.
Update: Mon 17 Nov 2025 1:00 PM CST
Right now crypto whales are buying bitcoin, as they burn through their cash trying to prop up its market value. As discussed above, $92-94K is a strong institutional price level. What this means is that crypto whales have all agreed that this price level must be strongly supported with cash infusions when necessary, in order to maintain the bubble.
Holding over 1000 BTC is the definition of a whale. Right now there are 1300-1500 bitcoin whales in existence, but not all whales are created equally. Elon Musk is a huge whale, but his influence has been muted somewhat by his conflicts with Donald Trump, who is now also a whale– along with his family.
Michael Saylor is a very influential crypto whale. According to Coindesk, Michael Saylor now holds “649,870 BTC acquired for $48.37 billion, or $74,433 each.” This explains the $74K price level, discussed above. Whatever the average price a large whale has paid for their bitcoin becomes an institutional price level. No market has ever been more manipulated by insider trading than bitcoin/crypto.
As of this writing bitcoin is ~$92.5K. Under intense downward pressure, crypto whales now have two conflicting strategies. The biggest such as Michael Saylor are burning cash to buy bitcoin. This props up the market and increases their monopoly power in crypto. Some smaller whales are selling their bitcoin. Fear has created panic, so some whales are cashing out.
Instead of big fish eating little fish, which is crypto business as usual, it’s now whales eating whales which isn’t sustainable. Once the skittish whales have sold out, the hardcore whales have a larger stake in bitcoin– with no buyers but themselves. No newbie wants to enter the crypto market when it’s crashing, as it is now. So the question becomes: How long can the crypto whales hold out? That answer depends on their available cash, access to credit, and the willingness of Congress to give them a bailout.
Sun 23 Nov 2025 09:05 AM CST
On Friday November 21, Federal Reserve Bank of New York president John Williams announced a possible rate cut in December. Since then, bitcoin which had plunged to ~$80K, has made a miraculous recovery, now at $86K and rising again. This is how the capitalist market operates, workers who need a loan can’t get one, while the Fed always makes more money available to crypto.
Clearly, the crypto whales have exerted their nefarious influence again, implying if bitcoin goes down, the whole stock market could collapse. That was the content of Bloomberg, Barron’s, etc, articles before a possible rate cut (now estimated at 70%) was announced on Friday. Crypto is intimately linked to AI, so whenever you read about the “AI bubble”, think bitcoin, as big banks & universities (such as Harvard) are in on bitcoin. This episode once again reveals that crypto/bitcoin is the weakest link in the capitalist fake economy.
Top comment I read on Yahoo! during this time-frame: “Something is wrong when $19 Billion in liquidations causes a 20 something percent drop in an “asset” with a $1.9 Trillion market cap. That is only a 1% liquidation. There are much bigger dominoes to fall.”
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