$BTC

Some people always think that the withdrawal of BTC from exchanges is good for the price of the currency. The reduction of BTC stocks in exchanges will inevitably lead to a decrease in liquidity. In addition, the current institutional ETFs have almost drained the market liquidity. For the price, it is a sudden rise and fall, and the price fluctuates by 3%. However, in the past six months, ETFs have pushed the price up to 70,000. Most of the potential institutions that should buy have completed their accumulation. Big whales are still buying. Then you buy it. Now BTC has become a game between institutions and big whales. Once one party starts to dump the market, the entire market will fall rapidly, and there will be no retail investors to take over. I predict that BTC will never return to 65,000. Then some people say that there are still interest rate cuts and quantitative easing policies. I think that potential ETF buyers have completed their accumulation, and the current price is no longer attractive. The flow of funds from quantitative easing policies will be to the Japanese stock market, not cryptocurrencies. The bull market in 2021 was caused by the large amount of liquidity entering the crypto market due to the direct printing of money for ordinary people. In the next round of QE, the main funds will be concentrated in the hands of banking institutions. They will not play in the crypto market that fluctuates 5% every day, but will conduct carry trades in the yen. The speculation of interest rate cuts may also arouse the emotions of retail investors and push up the price of the currency, but in a market where liquidity is almost dry and there is no hot money entering, I think the bull market is over. The above is my personal opinion