$BTC spot CVD by trade size is telling a very different story. 👀
The $1M–$5M prints exploded during the August 20 breakout… then started bleeding the same day. Every session since has trended lower. Now sitting at just 215 — a fraction of the peak.
Meanwhile, the $10K–$25K bucket never stopped climbing. Still around 6.16K and near the highs.
Same price action. Two completely different stories.
Big spot buyers chased the breakout, then started selling into every rally. Smaller spot participants kept accumulating.
This isn’t open interest, funding, or perp positioning.
This is spot flow. Real coins. Real exits.
Whales used the breakout as an opportunity to distribute — and they’ve been selling into strength ever since. 📉🐋
The $1M–$5M prints exploded during the August 20 breakout… then started bleeding the same day. Every session since has trended lower. Now sitting at just 215 — a fraction of the peak.
Meanwhile, the $10K–$25K bucket never stopped climbing. Still around 6.16K and near the highs.
Same price action. Two completely different stories.
Big spot buyers chased the breakout, then started selling into every rally. Smaller spot participants kept accumulating.
This isn’t open interest, funding, or perp positioning.
This is spot flow. Real coins. Real exits.
Whales used the breakout as an opportunity to distribute — and they’ve been selling into strength ever since. 📉🐋
