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RE: Well, it looks like the bubble has officially popped
This whole debacle did reveal one interesting thing -- it appears Ethereum has truly started to decouple from bitcoin. That said, I think money from the selloff was either exchanged for Tether, moved to a 'money market' placeholder via a custodian (Coinbase), or withdrawn completely. It certainly wasn't re-invested...yet.
I think very little of it was withdrawn completely. The market cap if you include tether isn't down as much as a crash out and withdrawal would come to. So it must be in money markets.