The current BTC is really a love-hate relationship!
We can clearly see a trend, which is that the whales are starting to gather funds, preparing for a full-on attack on BTC.
We actually analyzed this yesterday; Bitcoin is starting to drain the altcoins, accumulating energy for the next wave of market movement. So you will notice that BTC hasn't dropped, and has even slightly increased, while those small coins have retraced quite a bit. This is actually a very normal phenomenon, usually occurring in the early stages of a market explosion. Just like the Wall Street ETF, regardless of how the market retraces, they keep increasing positions daily, buying up the chips that retail investors have been scared away from.
At the end of a market cycle, it is exactly the opposite: BTC can’t move up anymore, but altcoins and meme coins are skyrocketing, which indicates that they are draining Bitcoin in reverse, signaling that the market has ended.
I mentioned yesterday that many small coins haven’t even broken their previous highs, so how can we talk about the end of the market?
This wave of the bull market in the crypto space has just started to rise for a month; November has just begun, so don’t rush. There is still a long time ahead, and I am particularly looking forward to 2025.
What about you?
