An explosive rally of $BTC typically begins with a spike in spot demand. However, the current market is showing a lack of spot demand.

Big whales are currently driving spot orders, while retail investor participation remains low.

In the previous cycle, $BTC explosive rally kicked off when the dominant order size shifted from big whale to normal.

In other words, the real bull market begins when retail investors start buying in.

Crypto market is currently in the preparatory phase. Whales are accumulating spot $BTC and building futures positions, gradually pushing the price up.

Once their preparations are complete, the price will surge rapidly. And then, hearing that news, retail investors will enter the market and begin buying.

Whales will sustain the upward momentum and selling the $BTC they accumulated at lower prices to retail investors. This is the typical process of a bull market.

The real rally begins when the green signal disappear and the normal signal appears. Currently, we are in the process of getting ready for that moment.

Written by CW8900