$BTC $ETH $SOL

Market has almost no volume. Even BTC volume on both Spot/Futures is absolutely bottoming. This is a typical sign of a dump, we already dumped today but it means there is no rebound soon. 1 minute candle right now doesn't even move. Market is frozen.

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After BTC went to 24 hour low of 66700, the rebound was a low volume pump. This kind of market has historically lead to long, and slow bear market that would last a year.

The rebound couldn't even go above 68k. Combined with major events such as Mt. Gox selloff, high interest rates, no more news to sell for hype, BTC is slowly falling and will continue this trend unless a game changing event occurs.

I believe people got wary of crypto real quick, too high expectations generated from media. The general public was fed with some absolutely ridiculous "analysis" and "predictions" of BTC going to 100k, 300k, even 1 million by actually influential people. Obviously that was not happening, but most of them only realized now.

ETF had way too much hype for what it really was. A proxy method to invest on Bitcoin when there are easier methods available since years ago. The inflow was not significant as expected.

Also, BTC had way too much "Invisible supply" that were hidden from the public. Such examples are Satoshi-era wallets that gets reactivated after a decade. Mt. Gox also ceased operation since 2014, which is a LONG time ago. BTC was not even $1000 back then.

But the market decided that these potential supplies, with massive quantity will always be "lost" and never come back. And we had this pump from 40k to 74k after ETF. Clearly the pace was too fast.

The only way BTC gains more interest is by breaking ATH again, or going so low, to a price no one ever expected a month ago. This way speculative investors will join in and it will be a casino again. Market will be so volatile but atleast we get volume

#Megadrop #MtGox #StartInvestingInCrypto #ETHETFsApproved #btc70k