The rise of Bitcoin is related to institutions, while the fall of Bitcoin is unrelated to institutions
In the past month, those who have been closely monitoring the market may have noticed:
💥Most of the declines occurred during the institutions' resting hours
💥Most of the rises occurred during the 1-3 hours when institutions are at work
According to analyst Kyle: long-term Bitcoin holders sold 128,000 BTC after reaching new highs. Institutions with ETFs absorbed nearly 90% of the selling pressure.
To put it simply, long-term profit holders are starting to exit
This suddenly reminds me of the German government, which at least sold off 60% of its profits, roughly estimated at 1.5 billion dollars
These long-term holders who are currently selling are making the path for BTC's future rises smoother
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