$BTC Down 6.9% in three days, and people on-chain are saying the U.S. government moved $1.48 billion worth of coins into Coinbase Prime?
Don’t rush to call it a dump.
According to Lookonchain, a total of 17,733 BTC (about $1.48 billion) + 750 WBTC (about $62 million) were transferred in over three days.
But: a transfer doesn’t equal a sale.
It could be a custody adjustment, the handling of seized assets, or there may really be sell orders. The official parties have made no statement so far.
Now let’s look at the chart (1h, Binance spot):
High: 86,999 → Low: 80,393 → Current: 82,976
Bollinger upper band: 83,296 / Middle band: 82,291 / Lower band: 81,286
My take:
1/ The upper band at 83,296 is the first resistance. The 83,158 level I mentioned earlier is also right overhead, and the current price is hovering just below it.
2/ If the middle band at 82,291 holds, the rebound can continue; if price falls back below it, watch 81,286 first.
3/ Invalidation: if the 1h candle closes below 80,393 again, I’ll concede the concern about a “news-driven dump.”
CPI is also due next Wednesday at 20:30 (Beijing time), so news and data could pile up at the same time.
What do you think: is this just an ordinary asset transfer, or a warm-up before a dump?
#BTC #内容挖矿 #U.S.GovernmentCoinTransfer
$BTC $WBTC
Just my personal opinion. Be mindful of the risks and DYOR.
Don’t rush to call it a dump.
According to Lookonchain, a total of 17,733 BTC (about $1.48 billion) + 750 WBTC (about $62 million) were transferred in over three days.
But: a transfer doesn’t equal a sale.
It could be a custody adjustment, the handling of seized assets, or there may really be sell orders. The official parties have made no statement so far.
Now let’s look at the chart (1h, Binance spot):
High: 86,999 → Low: 80,393 → Current: 82,976
Bollinger upper band: 83,296 / Middle band: 82,291 / Lower band: 81,286
My take:
1/ The upper band at 83,296 is the first resistance. The 83,158 level I mentioned earlier is also right overhead, and the current price is hovering just below it.
2/ If the middle band at 82,291 holds, the rebound can continue; if price falls back below it, watch 81,286 first.
3/ Invalidation: if the 1h candle closes below 80,393 again, I’ll concede the concern about a “news-driven dump.”
CPI is also due next Wednesday at 20:30 (Beijing time), so news and data could pile up at the same time.
What do you think: is this just an ordinary asset transfer, or a warm-up before a dump?
#BTC #内容挖矿 #U.S.GovernmentCoinTransfer
$BTC $WBTC
Just my personal opinion. Be mindful of the risks and DYOR.