Why has Bitcoin not broken new highs and continued to fall!

Why does this happen? There are three reasons

1. The currency in Mentougou has started to move. More than 32,137 BTC worth 2.1 billion US dollars have been withdrawn from the Mentougou wallet to an unknown wallet. Is the black swan really coming? BTC worth tens of billions will be paid before October this year, which is terrible.

2. 70,000 is only a stone's throw away from the high point of 73,777. There are a lot of locked-in plates above. The locked-in plates in March and April this year and the locked-in plates in 21 years have experienced the panic of the plunge. It is not easy to rise back. The locked-in plates must be released. As long as they reach this position, they will be easily smashed down. Therefore, if there is no super big positive, 70,000 is difficult to break. BTC at this price has also lost its appeal. At present, it is better to buy ETH than to buy BTC. ETH at least has good news.

3. Before the release of the US PCE data for April on Friday night, big funds dare not act rashly. They are all waiting for the PCE data. If the data is lower than expected, they will buy in. Therefore, before Friday, the market is likely to fluctuate. According to past rules, there is a greater possibility of a decline before the data is released.