I originally wanted to continue sleeping over the weekend, but thinking about the homework I hadn't submitted, I took advantage of my sleepwalking to turn it in. Today, BTC has slightly decreased, and many friends have reacted somewhat excessively, worrying that the bull market has ended or that we are entering a correction phase. I don't really know the result; I just think the weekend prices shouldn't be taken too seriously, and even the trends of the ALT (altcoin) prices may not hold until the market opens next Monday.
Weekend liquidity is the lowest, so a small amount of funds can pump the price, and a small amount of chips can also crash it. Whether we have really entered the altcoin season will depend on the performance of American investors after the U.S. stock market opens next week. If #ETH can continue to maintain an increase of over 5% and surpass #BTC, then there is still something to look forward to.
The past week has basically revolved around $MSTR, and it is expected that the narrative will still be about MSTR next week, especially since Michael Saylor mentioned in an interview today that he raised $10 billion in a month to buy #Bitcoin. According to Arkham's data, MSTR now has $3 billion ready to purchase BTC. Of course, this part of the purchase may not necessarily be in the secondary market; more likely, it will be through OTC and other methods. Therefore, the act of purchasing itself may not drive the market up, but if Michael Saylor announces the completion of the purchase of $3 billion in BTC, that would be a different story.
Aside from Michael Saylor, another big player this week is BlackRock. According to the published funding data, BlackRock purchased a total of 21,294 BTC over the five working days of this week, with total spending exceeding $2 billion. There's nothing more to say; it's still the same: the current situation can be bearish, but don't short it. Currently, the structure of holdings hasn't changed much, and there hasn't been any panic selling. On the contrary, more BTC is moving toward the range of $98,000 to $99,000.
In plain language, the current price has attracted a large number of investors, with the total holding exceeding 714,000 BTC, and there are only about 880,000 BTC between $87,000 and $96,000. This indicates that short-term investors are significantly moving their holdings forward. Unless this sentiment collapses, the likelihood of a major retracement is not very high.
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