$BTC fell 2.41%, $ETH fell 2.46%, and SOL fell 2.59%—all three major mainstream coins turned green-to-red across the board. The bears really won this round.
But what concerns me most is USDC. Trading volume at 4057.8M crushes every other coin, yet the price stays pinned steadily around 1.00013—barely moving.
This kind of scenario with big volume but the price not tracking the drop has only two possible explanations: either big holders are taking profit and switching into stablecoins for other opportunities, or the main players are distributing while using USDC to take the orders.
Given that other coins are all falling, I lean more toward the latter—don’t be fooled by how lively the price action looks; over on the USDC side, they’ve already gotten full.
I stopped out around 84500. At this level, a high-volume breakout that didn’t hold and didn’t manage to stabilize—so I don’t dare to keep holding and forcing it.
Was this sell-off just a shakeout, or is it really distribution? USDC volume doesn’t tell the whole story, but it definitely shows someone is setting up for the next round.
Where do you think the bears’ targets are this time? Will they go test support around 80,000?
#Write2Earn #Crypto
⚠️ Personal opinion only; not investment advice.
But what concerns me most is USDC. Trading volume at 4057.8M crushes every other coin, yet the price stays pinned steadily around 1.00013—barely moving.
This kind of scenario with big volume but the price not tracking the drop has only two possible explanations: either big holders are taking profit and switching into stablecoins for other opportunities, or the main players are distributing while using USDC to take the orders.
Given that other coins are all falling, I lean more toward the latter—don’t be fooled by how lively the price action looks; over on the USDC side, they’ve already gotten full.
I stopped out around 84500. At this level, a high-volume breakout that didn’t hold and didn’t manage to stabilize—so I don’t dare to keep holding and forcing it.
Was this sell-off just a shakeout, or is it really distribution? USDC volume doesn’t tell the whole story, but it definitely shows someone is setting up for the next round.
Where do you think the bears’ targets are this time? Will they go test support around 80,000?
#Write2Earn #Crypto
⚠️ Personal opinion only; not investment advice.