The YouTuber said the sale was driven by leverage, a sharp market drop and liquidation pressure rather than a fully bearish view on Bitcoin.
Patrick Shyu, described as a former Meta employee and a YouTuber with more than one million subscribers, said he has sold all of his Bitcoin. He had previously been a firm Bitcoin supporter, but said this time the decision was not based on turning completely bearish on the asset. Instead, he tied the move to leverage (borrowed exposure), a steep selloff and liquidation pressure, while acknowledging he had been positioned the wrong way around.