$BTC General Market Review
Whales had been loading up on Bitcoin for a while, but they stopped buying after #BTC reached $74,000.
- The main reason for the recent uncertainty is the whales not making any buys or sells.
- Whales were making significant purchases from $40,000 onwards, driving the price up, but currently, they've halted purchases for a couple of weeks, and the CVDD is moving sideways.
- For the past few weeks, they've only been holding what they've bought without making any further transactions.
- Looking at spot ETF data, we see a similar pattern.
- After #ETF approval, we saw significant inflows and rapid price increases. However, currently, we observe a halt in inflows to spot ETFs.
- ETF investors or whales haven't made any sales, but they've likely hedged their spot assets with short positions.
- At this point, I believe it's positive that whales and ETF investors haven't sold yet. If they thought the long-term trend was negative, they would have sold by now, but their reluctance to sell indicates their long-term outlook is still positive.
- After wearing down and selling off small investors with declines and sideways movements, they will probably start buying again.
I'll share updates with you if they resume buying or start selling in the coming days, but for now, that's the situation.#altcoins
