Mooners and Shakers: Bitcoin ransom conspiracy theory of US flight chaos emerges; BTC travels well

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Kind of like waiting for your crypto wallet to land on the moon, flight delays are a pain. The same goes for Bitcoin ransom theories for the US government.

People in the United States and Canada are certainly aware of flight delays and cancellations. As you probably know, flights across North America were grounded a week ago due to the countries’ air warning systems, both of which have independently experienced what has been widely assumed to be computer problems.

You know, the kind caused by a schlubby Jurassic Park technician spilling Pepsi on his keyboard.

What does this have to do with Bitcoin? We’re almost at the top of the queue for the point here

While Biden and co have dismissed such rumours, conspiracy theorists and bizarre American media identity conservative political commentator Tucker Carlson, for example, have flagged the idea that the FAA and Canadian blackouts were caused by cyberattacks, and that Bitcoin may have been used as a ransom currency.

The two countries’ aviation warning systems are not linked, so it is indeed a coincidence that the two countries experienced a similar technical problem within 24 hours of each other.

Why were flights across the United States blocked last week?

Tucker Carlson has a theory, and it may explain the recent bitcoin price surge. pic.twitter.com/on67s8A1Ra

— GANDALF (@BTCGandalf) January 17, 2023

If the conspiracy theories hold up, according to Carlson and others, this would be ONE reason why Bitcoin soared so high, so suddenly.

“Almost all ransoms like this are paid in Bitcoin,” Carlson noted. “So if the US government purchased huge amounts of Bitcoin in order to pay a ransom, Bitcoin prices would, of course, rise.”

Take-out tinfoil hats? Most likely, yeah. Then again, it’s not like a major US pipeline service was hacked by a bunch of Russians and ransomed for bitcoin last year or anything, is it.

Annnyyway, on a daily price action.

Overview of the top 10

With the overall crypto market capitalization at US$1.03 trillion, fairly stable as of this time yesterday, here is the current state of affairs among the top 10 tokens according to CoinGecko.

Bitcoin and much of the crypto market has skyrocketed over the past week, as you may know. Is it grounded? Has he reached his temporary destination yet? It would seem so, judging by how the crypto market capitalization as a whole is stabilizing somewhat.

Beyond the BTC ransom theories, there have been concerns that this latest rally might not be exactly organic for other reasons, namely manipulation by whales (large asset holders) .

Crypto market data gurus Material Indicators, for example, expressed suspicion that the rally was “choreographed.”

I was expecting the bid block to be placed all in on Friday the 13th, but it drew more than 2x the amount of bid liquidity into the range, which is bullish in the short term. IMO, this move looks choreographed. Don’t fight it, but limit exposure to manage the risk. #FireCharts #RiskManagement pic.twitter.com/epjW0wBT24

— Materials Indicators (@MI_Algos) January 17, 2023

We’ve seen plenty of other disbelief and distrust on Twitter regarding the Bitcoin/crypto price action of the past fortnight.

Yet popular and respected market analyst Eric Crown launches this one today

Liquidate them all. pic.twitter.com/M317bXywvx

— meatport (@meatportmusic) January 17, 2023

and Bitcoin made a decent impression of an asset that has persisted above or around support for about a day.

Tops and bottoms: 11100

Scanning a market cap range of around US$8.6 billion to around US$384 million across the rest of the top 100, finds some of the biggest 24-hour winners and losers as of press time. (Stats accurate at time of publication, based on data from CoinGecko.com.)

DAILY PUMPS

Casper Network (CSPR), (market cap: $411 million) +13%

GALA (GALA), (mc: $385 million) +9%

EthereumPoW (ETHW), (mc: US$455m) +7%

Helium (HNT), (mc: US$446 million) +7%

Aave (AAVE), (mc: $1.2 billion) +6%

ARE WE DAILY

Aptos (APT), (market cap: US$1.23 billion) -5%

Lido DAO (LDO), (market cap: US$1.69 billion) -4%

Huobi (HT), (mc: $805m) -3%

Uniswap (UNI), (mc: $4.83 billion) -3%

Flare (FLR), (mc: $481m) -2%

around the blocks

A certain relevance and randomness that marked us on our morning trips through the Crypto Twitterverse

Wish we could get @elonmusk fully orange tablet. I think he’s incredibly close.

— Joe Burnett () (@IIICapital) January 17, 2023

Polygon $MATIC completes a successful hardfork!

— Altcoin Daily (@AltcoinDailyio) January 17, 2023

Will the S&P 500 be rejected by retesting its weekly trend for the 5th time? Big week. pic.twitter.com/mLebe9ZaGF

— Will Clemente (@WClementeIII) January 17, 2023

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