Coinbase added another 819 BTC in the second quarter, bringing its holdings up to 17,311. These institutions really seem able to hold—buy on dips, and even buy when prices rise too. It’s a completely different species from retail traders chasing breakouts and selling in panic.
But the most interesting thing today is the yen move. It appears the Japanese authorities may have intervened for a second time: the USD/JPY rate suddenly plunged, while the BTC liquidity index is leaning bullish—suggesting the money is still moving into the crypto market. I’ve seen this kind of script before: when the yen swings, U.S. premarket starts shaking, and then the crypto market follows the sentiment.
Right now, BTC is hovering around 63,700. It hasn’t broken out or seen an increase in volume. According to my usual approach, I won’t take action at this level yet—wait until the direction becomes clear. Don’t bang your head in a hurry; the market isn’t like this every day. If there’s no good setup, then just wait.
I’ll keep watching this one—don’t rush.
But the most interesting thing today is the yen move. It appears the Japanese authorities may have intervened for a second time: the USD/JPY rate suddenly plunged, while the BTC liquidity index is leaning bullish—suggesting the money is still moving into the crypto market. I’ve seen this kind of script before: when the yen swings, U.S. premarket starts shaking, and then the crypto market follows the sentiment.
Right now, BTC is hovering around 63,700. It hasn’t broken out or seen an increase in volume. According to my usual approach, I won’t take action at this level yet—wait until the direction becomes clear. Don’t bang your head in a hurry; the market isn’t like this every day. If there’s no good setup, then just wait.
I’ll keep watching this one—don’t rush.