Let's talk about the funding situation tonight
1. US Stock ETF Funds
Continuous net inflow, ranging from hundreds of millions to billions every day
However, US stock funds involve both institutions and retail investors, and I generally believe they are not the main players
More like the leeks left for the main players to harvest
This can be seen from the previous six months of wash trading
Buying high and selling low
How long can we ride this wave this time?
2. Funds Entering Exchanges
Recently, there has been a continuous inflow of several billion US dollars into exchanges
There may be an opportunity for chasing the rise
Waiting for a big drop to buy the dip? I don't think that's very likely
Especially since a large amount of Bitcoin has recently been withdrawn from exchanges
It cannot be ruled out that these US dollars are responsible
Are these funds the actions of the main players?
I think not necessarily
If the main players want to manipulate the market, they wouldn't make such obvious moves
They would have been prepared long ago
It wouldn't be something done in a rush at the last minute 🤪
3. On-chain Whale Behavior
In the past few days
Small, medium, and large holders have been continuously selling
Whales have been consistently buying
The amount of holdings has reached a historical high
Especially for new entering whales
They account for 60%
It cannot be ruled out that they have jointly mastered the pricing power
In turn, putting pressure on the old whales
However, similarly, whether this is the action of the main players is unknown
If the main players' holdings are dispersed across small and medium addresses
And the whales cannot jointly control the market
They will also be unable to avoid the fate of being harvested by the main players
Comparing price trends and the amount of whale holdings, we can see
Although near the top of the bull market, as the price rises
Whales will also offload
But with each major drop
Whales will also sell
Therefore,
Not all whales are main players
That's all! $BTC