The current BTC is truly a love-hate relationship!
We can clearly see a trend, which is that the whales are starting to gather funds, preparing for a full assault on BTC.
We actually analyzed this yesterday, as BTC begins to siphon off from altcoins, accumulating energy for the next wave of the market. So you will notice that BTC hasn't dropped, and even has slightly increased, while those small coins have pulled back quite a bit. This is actually a very normal phenomenon, usually occurring in the early stages of a market explosion. Just like the Wall Street ETF, regardless of how the market pulls back, they are increasing their positions daily, buying up the chips that retail investors have been scared away from.
At the end of a market cycle, the situation is exactly the opposite: BTC can no longer rise, but altcoins and meme coins surge, which is the sign of reverse siphoning from BTC, indicating that the market has ended.
I mentioned yesterday that many small coins haven't even broken their previous highs, so how can we talk about the end of the market?
This bull market in the crypto world has just started to rise for a month, November has just begun, so don’t rush, there is still a long way to go, and I am particularly looking forward to 2025.
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