Quick take from the large-order perspective:
“Chinese police have opened an investigation into companies affiliated with Yixin; funds under its umbrella previously participated in funding rounds for crypto projects such as Circle and Figure.”
After the news broke, I had just three questions—all about money:
1. Are large orders skewing more toward buying or selling?
2. Has trading volume for $BTC (24-hour volume: $685 million) risen noticeably?
3. Are whales making large transfers to trading platforms?
If all three point in the same direction, then the market has validated the news with money; otherwise, it’s probably just a passing gust.
The more a story floods your feed, the more reason there is to wait and see how the market reacts.
#BTC
“Chinese police have opened an investigation into companies affiliated with Yixin; funds under its umbrella previously participated in funding rounds for crypto projects such as Circle and Figure.”
After the news broke, I had just three questions—all about money:
1. Are large orders skewing more toward buying or selling?
2. Has trading volume for $BTC (24-hour volume: $685 million) risen noticeably?
3. Are whales making large transfers to trading platforms?
If all three point in the same direction, then the market has validated the news with money; otherwise, it’s probably just a passing gust.
The more a story floods your feed, the more reason there is to wait and see how the market reacts.
#BTC