BlackRock withdrew ~100k $BTC to 29 different wallets ❗️
The questions arise: Why are they doing this and What will happen to BTC?
I spent ~10 hours researching all the data and found smth shocking...
Here is what it means and what's going to happen🧵👇
2/➮ Yesterday, BlackRock transferred 100k BTC to other wallets
🕷 There are 2 possible scenarios:
- BlackRock is selling
- Manipulations
I did some research to dive deeper into the issue and fully understand what is going to happen:
3/➮ BlackRock is selling?
🕷 If you don't believe in this scenario, it's a mistake because BlackRock is sitting on huge profits from its $BTC
🕷 This could be their move, but after researching, I realized it closely resembles the Mt. Gox situation
So here's what will happen next
4/➮ Everyone remembers the $9B Mt. Gox and Germany $BTC dump that took the price from $70k to $50k
🕷 But those who understand the market know that $20B in daily exchange volume can’t dump that hard from just $9B
🕷 All of this happened due to panic and regular retails
5/➮ Also, considering that retails have strongly believed in crypto and the bull run recently
🕷 They started investing at ATH in many high-cap alts that pumped, like $XRP, etc
🕷 This is the perfect time to shake weak hands out of the market
➮ Overall, my recommendation rn is to stay out of the market, whether you have a position or not
🕷 This isn't the best time to enter the market
🕷 Holding or taking profit (depending on your R/R) has always been the best decision
/➮ It’s also important to know that BlackRock can have twice the impact compared to Mt. Gox and Germany combined
🕷 That’s why I recommend staying on the sidelines and just watching what happens
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#Altcoinseason2024
