It has been alleged that SBF, Caroline Ellison, Alameda, and FTX conspired to keep the price of Bitcoin below $20,000. However, determining whether they were successful in doing so is challenging. The available information suggests that FTX’s Bitcoin holdings were relatively small compared to other exchanges, and the alleged sales by Alameda would have represented only a small portion of FTX’s daily trading volume. Additionally, previous instances of large Bitcoin sales by other entities have had limited long-term impact on the price. Therefore, while there may have been some short-term effects, it is unlikely that this alleged conspiracy had a significant impact on Bitcoin’s price over a longer period of time.