The Mark Moss Show Bitcoin’s Crash Was No Accident — Here’s What Comes Next
10 snips
Jan 10, 2026 The discussion kicks off with insights into the liquidity crisis driving Bitcoin's decline. A unique morning selling pattern reveals a hidden force behind the market shifts. While panic dominates the short-term sentiment, strong fundamentals hint at a resilient future. Upcoming shifts in market structure might end abrupt sell-offs, leading to recovery opportunities. Listeners are encouraged to focus on long-term strategies while navigating current volatility, emphasizing the importance of adapting their investment approach.
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Liquidity, Not Fundamentals, Drove The Drop
- Liquidity drains from macro events can hit all assets regardless of fundamentals.
- Mark Moss argues Bitcoin fell largely because liquidity contracted, not because fundamentals broke.
10/10 Liquidations Broke Market Structure
- The October 10 liquidation cluster broke market-making structures and shrank quoted sizes.
- That structural damage amplified forced selling and left persistent holes in market liquidity.
ADL Malfunctions And A Fund Collapse
- Moss recounts Binance's ADL cluster and Wintermute's complaint about fills that 'make no sense.'
- He also notes Stream Finance, a delta-neutral fund, went bankrupt after those hedges failed.
