Foreign media: Former Google Technical Director, YouTube content creator Patrick Shyu recently stated that he had sold all his encrypted assets. At that time, Bitcoin had just fallen to the $60,000 threshold, the market as a whole had been under pressure, and his statement had quickly triggered discussions on liquidity and the stage bottom.

In the latest video, Shyu stated that he had suffered significant losses as a result of the fall, mainly because of overposition and leverage. He said that bitcoin had gone way beyond his expectations since October, when about $120,000 had fallen.

He claims to be over-leveraging.

In his video, he said that it would have been hard to imagine that he would have publicly acknowledged the clean-up, but that he had eventually chosen to explain the situation. In his view, the real cause of the increase in losses was not simply a fall, but rather an over-leverage magnifying the retreat in large fluctuations.

This brought his statement closer to a personal market revisit rather than a mere empty statement. The article mentions that Shyu used to work as a software engineer in Google for YouTube applications and then in Meta, where his public statements received some attention in the encrypted community.

Challenge current market capacity

According to Shyu, the current bitcoin market may be less liquid than in 2021 and may not be sufficient to take over all potential sales. He mentioned that Mt. Gox creditors were receiving about 35,000 bitcoins and Strategy was also in possession of about 850,000 bitcoins, which could be considered by the market as a source of subsequent pressure.

  • Mt. Gox creditors receive about 35,000 bitcoins
  • Strategy holds about 850,000 bitcoins
  • Shyu considers current liquidity to be lower than 2021

On that basis, he warned that the market capacity might be tested if more currency holders withdrew. In other words, he feared that after the price had clearly fallen, there was still an unreleased demand on the site.

We'll keep it long term.

Despite being cleared, Shyu has not completely rejected bitcoin. At the end of the video, he stated that he was still looking at the technology behind the bitcoin and that the asset was often re-focused after the market generally recognized that it was “over”.

In addition to short-term sales pressure, he referred to two long-term concerns: the potential challenge of quantum computing to encryption security, and the question of whether, as new issuances decrease, miners will be more dependent on transaction costs in the future, and whether this revenue model is sufficient to support network security in the long term.

Overall, this comment is more like a personal leveraging exercise in the context of a big fall. Its core message is not a new chain of data or institutional actions, but rather a reassessment of liquidity, sales pressure and the long-term narrative of bitcoin by a high-profile market participant.