$BTC
During the period when BTC pulled back 5.82% from the $81,474 high, on-chain whales aggressively bucked the trend and swallowed approximately 6,765 BTC.
The market looks soft and sluggish, yet spot capital flows are being violently drained of sell pressure. Clearly, it is the derivatives side that is squeezing the longs, while the spot side is quietly taking the chips.
This divergence suggests that bears can hardly smash out a deep hole; spot capital is favored to come out on top. As long as these 6,765 BTC do not show a large reverse inflow into exchanges, a short-term counterattack could come at any time. Once this batch of positions starts being re-deposited and enters the market again, this entire logic immediately breaks and fails to hold.
During the period when BTC pulled back 5.82% from the $81,474 high, on-chain whales aggressively bucked the trend and swallowed approximately 6,765 BTC.
The market looks soft and sluggish, yet spot capital flows are being violently drained of sell pressure. Clearly, it is the derivatives side that is squeezing the longs, while the spot side is quietly taking the chips.
This divergence suggests that bears can hardly smash out a deep hole; spot capital is favored to come out on top. As long as these 6,765 BTC do not show a large reverse inflow into exchanges, a short-term counterattack could come at any time. Once this batch of positions starts being re-deposited and enters the market again, this entire logic immediately breaks and fails to hold.
