"We will explore two main reasons from the outside to the inside of this market. The first reason we will mention is..."

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1. External, $BTC spot ETF

- Looking at the photo below, we can see that for nearly 2 consecutive weeks, ETF funds have sold out with a daily amount of up to hundreds of millions of dollars.





"So why did they make such a move?"

- The most satisfactory reason currently is because we are at the end of the second quarter. This is the time when organizations and investment funds need to make statistics and restructure their books. The massive selling may stem from that reason.

- On the other hand, with rumors that $ETH ETF's S1 application is about to be approved in early trading next month, the start of the third quarter, the need for restructuring from investment funds becomes even more obvious. time is over.

"So after the end of the second quarter, will investment funds have a buyback move?"

- The answer is possible, because in contrast to the end of the quarter, the beginning of the quarter will also be the time when organizations plan and conduct spending. Next is the second reason

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2. From inside, Future & Spot market side

- First of all, the overall picture of buying and selling force is clearly shown through the white line - title for CVD. The decline in CVD on all three charts shows strong selling/shorting from both the spot and futures markets.



- The consequence of that strong and long selling pressure has become a reason for $BTC to decrease significantly in price.

- But that's not all, the strong downward pressure on prices has pushed $BTC to a dangerous price zone, which is... LIQUIDITY Zone!



- With the huge profits that the exchange gets from liquidation orders, when the price approaches this zone, it will continuously sweep until there is nothing left, as described above as well as currently.

"So has the liquidation been cleared yet?"

- Liquidation orders from short to medium term have taken place, but the long term cannot be concluded yet, because it is very far from the current price, the furthest is up to the 55k area.

- And if $BTC reaches that area, it will be an extremely bad scenario that certainly none of us want to encounter.

In short: selling pressure from inside to outside the market has fueled panic and caused the price to reach the dangerous liquidation zone, causing more and more negativity!

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"So with the above negative developments, will Whale come back to collect goods?"

- Sadly not, even while preparing this analysis, the floor #Binance recorded a very strong selling force worth millions of dollars, while the buying - bottom-fishing force unfortunately came from orders with extremely small volumes.



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To summarize: this is the true face of $BTC data in the current market, full of negativity and challenges for everyone. And it will probably continue like that, until the last days of June...

"However, Luong still hopes that when faced with this difficult and catastrophic decline, everyone will still remain calm and overcome it."