$1000SATS $BTC Today, Bitcoin has hit a new high, breaking through 57,000. Looking back, it reached 72,000 on June 7, but it has fallen by 15,000 points in this month. It has always been a long-term explosion. This is really a difficult bull market.

The reason for the decline is very clear. A bunch of old rich people holding a large amount of BTC took advantage of the bull market to sell and cash out. I don’t know if Germany has encountered any crisis, or if it is really too expensive to aid Ukraine. These days, thousands of large orders have been continuously sold. According to Lookonchain monitoring, the German government transferred 3,000 BTC (US$174 million) again today, of which 1,300 BTC (US$75.5 million) were transferred to Bitstamp, Coinbase and Kraken; it currently still holds 40,359 BTC (US$2.33 billion). It is said that the German government has more than 50,000 coins in total, and it is unknown when it will be finished.

It is said that the US government also has more than 200,000 BTC, which are also being moved every day and slowly shipped. In addition, China has more than 100,000, and North Korea has quite a few, and I don’t know if they are also shipping. The most fucked up thing is that Mentougou is now calling for debt repayment, and there are still more than 140,000 bitcoins in hand. With just these few big players, if they want to ship out every day, how can bitcoin rise? How much money is there to buy them?

So if bitcoin does not rise and keeps falling, is this bull market bullshit? I think there may be a turnaround. After all, this is an ETF bull market, and the surging ETF funds are pouring in. They are all the funds of securities industry customers. Do institutions bring everyone in and get harvested and leave? That is not easy to explain to customers! At present, the net inflow of Bitcoin spot ETFs in the United States alone is 14.6 billion US dollars, and the daily trading volume in Hong Kong is close to 100 million Hong Kong dollars. Everyone is here to make money, not to be harvested. Such a huge influx of funds should theoretically lead to a bull market, but now the bull market of Bitcoin is really hard to pull up. The hundreds of thousands of BTC seized by several governments through fines and other means and the more than 140,000 BTC that Mentougou has to smash to pay off its debts are difficult to digest. With such a huge uncertainty hanging over their heads, no one dares to continue to pull up Bitcoin. Several hundred million US dollars are bought in, #币安合约锦标赛