Looking back Summer 2020, I could not understand entities like GrayScale & MicroStrategy kept buying much that time at 12k, which was supposed as distribution zone following the view of funding matrix in Futures market.
Result was BTC dropped from 12k5$ to 9999$ at lately summer. But a bullrun started in Q4 2020. It ran from 10k to 60k.
Now I can say the situation is quite the same.
