$BTC spot CVD by trade size.
The $1M–$5M prints exploded on the August 20 breakout… then started bleeding the same day. Every session since has been lower. Now sitting at 215. That’s a fraction of the peak.
Meanwhile the $10K–$25K bucket never stopped climbing. Still at 6.16K. Still near the highs.
Same stretch of price. Two completely different stories.
Big spot size bought the breakout, then sold into every rally after it. Smaller spot size just kept buying.
This is not open interest. Not funding. Not perp games. This is spot. Real coins. Real exits.
Whales used the breakout. They have been distributing into strength ever since.
The $1M–$5M prints exploded on the August 20 breakout… then started bleeding the same day. Every session since has been lower. Now sitting at 215. That’s a fraction of the peak.
Meanwhile the $10K–$25K bucket never stopped climbing. Still at 6.16K. Still near the highs.
Same stretch of price. Two completely different stories.
Big spot size bought the breakout, then sold into every rally after it. Smaller spot size just kept buying.
This is not open interest. Not funding. Not perp games. This is spot. Real coins. Real exits.
Whales used the breakout. They have been distributing into strength ever since.
