Bitcoin has finally pulled back, and my anxious heart has also calmed down.
Many people are panicking and are very worried about the future market trend, fearing a major pullback and a steep drop.
Although we cannot predict the future, the probability of such a situation occurring is very low.
This pullback, according to market data, shows that long-term holders are starting to cash out, rather than ETFs.
This also indicates that at the critical point of 100,000, there has been a division among big players, and institutions have been buying and selling, keeping Bitcoin at a high level.
Some long-term holders have started to cash out, believing that it is time for Bitcoin to pull back, and having reached a historical high, cashing out a bit for safety is actually not a problem.
Institutions buy, long-term investors sell, which is originally a delicate balance; if Bitcoin starts to deeply pull back from this position, then it would mean long-term investors are being taken advantage of by institutions.
But no matter how I think about it, I can't understand this logic.
Long-term investors seem impressive in the eyes of us retail investors, but in front of institutions, they are just small players.
Institutions may not care about these small profits; they are looking at a broader horizon.
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