After Bitcoin broke through 70,000 US dollars, the market began to pull back due to the Mentougou currency transfer incident, with the lowest price dropping to 67,000. It is currently trading sideways around 68,600. In fact, regarding the Mentougou time, old investors know that this is a commonplace. He needs to make trouble in every round of the market. I hope he will land sooner.

Mentougou is preparing to repay the creditors before the repayment deadline on October 31. Compared with Grayscale's volume, Mentougou's volume appears to be more moderate. There is no need to panic excessively. Small events can only slow down the trend, not change the trend. The gap between BlackRock and Grayscale's Bitcoin holdings has narrowed to less than 2,000 BTC, so the market's large institutions will also be replaced at different times. We just need to be patient and follow the trend.

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