1. Bitcoin is set to hit a new all-time high after absorbing $3 billion of sell-side pressure in Germany.

2. Three important arguments prove that Bitcoin is about to break through to new highs.

3. Accurate entry profit taking and trend analysis of Gale Pie, WLD daily breakthrough analysis

1. Bitcoin price is back above $64,000 after absorbing more than $3 billion of sell-side pressure from the German government.

Mt Gox’s distribution selling pressure was short-lived as miners and exchanges have historically been the largest and most dominant holders of Bitcoin

Bitcoin price is back above $63,000 after absorbing more than $3 billion of sell-side pressure from the German government. Mt Gox allocations still lead, but seller expectations may be overvalued by the market.

The recent rebound in the market has been accompanied by the selling pressure caused by the Mentougou incident. Will Bitcoin rise instead of falling? The market is anti-human, and bad things turn into good things. An important factor in this is that the German government made a major decision to sell 49,858 Bitcoins, which caused market panic to rise from fear to greed. What is the mystery behind this? Through the following statistics, we can prove that the main force took advantage of the German government's selling of Bitcoin. Looking back at the reaction of the encryption market during the entire process, we know that Mentougou is a short-lived and long-killing behavior.

1.1) The seller is selling in lots over a period of about 1 month, most of which have been sold within the last 8 days.

1.2) Between June 19th and July 8th, about 10,000 BTC were sold, and the price dropped from US$65,000 to US$54,000 (the market reported the news first, causing the market to panic and fall, and the main players took the opportunity to accumulate funds).

1.3) The remaining 39.8k BTC are being sold daily for a whopping $485 million to $682 million... while the market is still rising from $541k to $576k. (The main force used the news to continue washing the market, pulling up while washing, and the bottom began to rise)

1.4) Since then, BTC prices have recovered to the levels seen after the first batch of approximately 2,000 BTC sales at the end of June. (The market is overly bearish, and the main players are taking advantage of the market’s short-selling sentiment to pull it up)

The main force took advantage of the Bitcoin Germany incident and absorbed Bitcoin worth well over 3 billion US dollars in the market. By creating a decline, washing the market and suppressing the rise, it quickly emerged from the decline and rose strongly. Most of the market's investments did not undertake these supplies, but instead participated in the selling pressure, playing a trick on the main force.

2) Currently, large entities hold approximately 4.9 million BTC, equivalent to 25% of the circulating supply. Among these entities, centralized exchanges and ETF custodians account for the largest share.

The landscape of Bitcoin holders is always evolving, which requires analytical frameworks to evolve over time. Historically, miners and exchanges have been the largest and most dominant holders of Bitcoin (yellow). The Mt. Gox trustee’s sell-off is just a blip in the historical evolution. Miners have always been the main source of seller pressure. As you can see in the picture below, red represents the selling of MT.goxd, and the proportion is not very high.

Throughout history, large numbers of tokens have ended up in the custody of market-neutral entities, such as the Mt.Gox Trustee, which was tasked with safeguarding the tokens recovered following the collapse and bankruptcy of the Mt.Gox exchange.

Likewise, government law enforcement has seized large amounts of tokens and sold them in batches on a regular basis.

Then more recently, institutional grade custodians and ETFs have entered the market. 11 new US spot ETFs now hold +88.7W BTC cumulatively, making it the second largest Bitcoin pool we monitor.

So we can conclude from the chart that centralized exchanges and ETF custodians account for the largest proportion. As long as it is not panic selling by mid-line exchanges and ETF custodians, it will not affect the medium and long-term trend of Bitcoin, and the mtgox incident , can only affect short-term fluctuations.

2. Three important arguments prove that Bitcoin is about to break through to new highs.

1) The first point is that the US dollar index is falling to a local low of 104, below which it may enter the next round of downtrend. The weakening of the US dollar index will be beneficial to the overall recovery of the crypto market. Gold is also hitting an all-time high of $2,430, the digital gold Bitcoin is also starting to strengthen again, and a weaker dollar means increased global liquidity as dollar-denominated debt becomes easier to repay. Generally speaking, this tends to be good for the asset.

2) The important support of the 200-day moving average has been stepped back, and the upward trend can continue and is expected to break through to a new historical high.

The current price of Btc has exceeded the short-term holder's cost position of around US$64,100. This is the cost position for most short-term holders to open positions. Once it resists the short-term selling pressure, it can continue as long as it does not break below the 200-day moving average near 59300. The upward trend will reach 70,000 again, and then it will further reach the selling area above 77,000. At present, the market is very promising and has reached the profit point selling position in the green area.

3) After hitting a record high in March, exchange traffic dropped significantly. Even if the Mentougou incident sells off, it cannot change the downward trend of exchange inflows, which is good for the rise of the pie in the medium and long term.

1. From the chart below, the orange area indicates that BTC trading volume has been at a stable baseline of about $1.5 billion per day since March, and the exchange has not provided much selling pressure. 2. When we compare the inflow and outflow structure of Ethereum (blue area), we will find that compared with the 2021 bull market cycle, the inflow of Ethereum is also significantly reduced. At the peak of the 2021 bull cycle, ETH’s daily transaction flow was almost as large as BTC’s. This also shows that there is not much selling pressure on Ether, and the upside of Ether is still worth looking forward to.

3. Team perspective

Btc short-term: For those who have not got on the train, get on the train at 61500-63500. The spot price will not stop losing, and the profit will be taken according to the medium and long-term point No. 7.1

Wld short-term: get on the train from 2.15-2.35, take profit in batches from 2.45-2.85-3.15, stop loss at 2