Bitcoin and possibly all crypto has potentially been our canary in the coal mine

Gonna keep this short and sweet

After noticing the Crypto crash last night I got hit with a series of "It was just a simple 10 BIllions margin call, happens all the time" or "China had a black out and erased billions of dollars" or my favorite "This is crypto, just zoom out". So you know what I did? I zoomed out.

There have been 4 other spikes downward in Bitcoin before this one and they've all been this year after the huge run up that started in Dec 2020.

Jan 8th -> 11th
Jan 19th -> 20th
Feb 20th -> 22nd
March 19th -> 24th

Now lets look at GME's Major Run ups
Jan 12th -> 14th
Jan 21st -> 27th
Feb 23rd -> 24th
March 24th -> 25th

HOLY CONFIRMATION BIAS BATMAN

Hold up though, there's another huge climb on GME March 5th -> 10th and what's that? Bitcoin fell only a tiny bit March 2nd -> 3rd and blew up during that run up?

Here's the fun part. That run up has been speculated too have been faked by the shorts to shake off the weak. It was too long and sustained for it to be either a major breakout of Gamma squeeze. u/WardenElite even speculated that this was a fake squeeze. Which would make sense as when it rebounded hard is when BTC dropped.

So who is this for then? Longs cashing out to load the cannons or Shorts cashing out to resist a margin call with extra capital?

TLDR: Whether from the good or bad guys, Something really fucky is potentially gonna happen next week.

Edit: I can't spell also

u/v1-c4r posted a pretty picture with some other memes https://s3.tradingview.com/snapshots/y/yHdCQbe7.png

Edit 2: I'm seeing a lot of this is common with crypto and nothing to do with GME so I'll share one of my responses.

"I agree that BTC is not directly connected to GME but they are both pieces in the same game. If Crypto is the canary then GME and maybe a few other meme stocks are the elevator out while the shorted US treasury bonds and disastrously over leveraged margin on the market is the collapsing/gas filled mine. This is a house of cards and when one piece moves the rest react. "

Edit 3: so looking at the chart some more is seems that each crash/correction removed a small portion of the previous run up. BTC has also slowed it's growth and the correction becomes proportionally bigger each iteration. We just had the smallest growth in BTC as well as this past correction being the first to completely wipe out those gains and more.