Bitcoin rally slows as whales transfer wealth to retail investors.
Cointelegraph
There's only one thing we say to Death: "Not today!"
The Game of Thrones
When I read the crypto-market news these days I can't help feeling some kind of duality. On one hand, everything is just fine with BTC. The "institutions" keep hodling, buying more BTC little by little, and onboarding new wannabe hodlers. The wall of stimulus checks in on its way to crypto-exchanges. Tether bakes USDT in billions, and these billions are already deposited to the exchanges. At the same time, bitcoins leave exchanges in thousands. The miners don't want to sell, the "influencers" keep talking about BTC somewhere between 100K and 1M soon. Even Mr. Musk blessed us recently!
On the other hand, I see a growing number of gloom articles by "crypto-analysts" (both "professional" and "amateur" ones) who predict the looming BTC dump and bear market. I really love the way Cointelegraph puts it: "Bitcoin rally slows as whales transfer wealth to retail investors." In other words, the whales are allegedly dumping their shit on "retail" noobs. I also noticed that the "crypto-analysts" in general (and especially amateur analysts, not bound by any editorial guidelines) think pretty low of that "retail" -- their "retail" is something like a herd of dumb hamsters to slaughter. Well, maybe they're right.
In Telegram I recently run across an interesting idea. You know, the analysts today love to track BTC inflows and outflows. It's considered that when a big pile of BTC is moved to an exchange -- BTC will dump soon. Pretty logical, huh. But the Telegram guy said a whale can move his BTC to exchange -- and buy more when inflow-tracking wannabe analysts start selling. Then the whale buys even more, fucks the analysts who were shorting during the sell-off, and sells his low-bought BTC to fill their liquidation orders. Pretty logical either, huh.
Well, one day it all will certainly dump. But not today, I'd say. It's the very wave of gloom analysts that makes me believe so. I'd say the more posts about "the end of the bull cycle" I see, the more I believe BTC will go to 60K, 70K, or (less probably) 100K pretty soon. (It doesn't mean however we can't touch 50K or, less probable, 40K first).
The dump will be the result of a coincidental combination of several unhappy unintentional events, so to say. E.g. Mr. Fed will say something nasty about crypto exactly when a whale decides to fuck an analyst who has a liquidation order in the wrong place where some dumb shorting bots live. Without much analytics or outflow trackings, so sudden that most of the institutions, whales, analysts, and retails will hardly have any time to say "Not today!!1"
