The thing is when they use derivatives to create selling pressure you can throw away any valuation model taught in business schools. If the asset can be seen as a store of value, the laws of supply and demand no longer apply in asset pricing. Remember the way BTC tanked right after futures began trading? Same for gold a few days ago right when you might think it will go up due to its new reserve status in Basel III, apparently effective around tomorrow. In recent years, the evidence of wealth transfer through dispossession by market manipulators is simply overwhelming.