This raises critical questions: Why are they doing this, and what does it mean for Bitcoin?
I spent around 10 hours analysing the data and uncovered some shocking insights...
Here’s what it signifies and what might happen next 🧵👇
2/ ➮ Yesterday, BlackRock moved 100,000 BTC to various wallets.
🕷 Two possible scenarios emerge:
BlackRock is selling.
They are manipulating the market.
I delved deeper into this to fully understand the implications.
3/ ➮ Could BlackRock be selling?
🕷 Underestimating this possibility might be a mistake. BlackRock has significant unrealised profits from its Bitcoin holdings.
🕷 This could be a profit-taking move, but my research suggests parallels to the Mt. Gox scenario.
Here’s what that might mean:
4/ ➮ Recall the $9B Mt. Gox and German BTC dump that slashed prices from $70k to $50k.
🕷 However, market insiders know that $20B in daily exchange volume isn’t enough to cause such a steep drop from just a $9B sell-off.
🕷 The real driver? Panic selling by retail investors.
5/ ➮ Now, with retail investors deeply committed to crypto and riding the recent bull run:
🕷 Many have invested at all-time highs in high-cap altcoins like $XRP, which have surged recently. $XRP
🕷 This moment is ripe for shaking out weak hands from the market.
➮ My advice? Stay cautious and avoid the market for now, whether you have a position or not.
🕷 This isn’t an ideal time to enter.
🕷 Holding or taking profits (depending on your risk/reward strategy) is often the safest move.
6/ ➮ It's crucial to note that BlackRock’s influence could potentially double the impact of the Mt. Gox and German BTC dumps combined.
🕷 That’s why staying on the sidelines and observing might be the wisest choice.
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