Things are moving on the gold front: whales have opened long positions worth over $10 million combined.
What’s interesting is that the broader market has been cooling off over the past couple of days. BTC has slipped to around $82,500, ETH to around $2,500, and SOL has been hammered down to around $111. Altcoins are awash in red, with only 2.2% up more than 10%. So while the market is shrinking, whales are leveraging up at just this moment.
I don’t need to say much about the clout these players have. Long positions worth over $10 million aren’t retail sentiment—it’s someone putting real money on the line. The Fear & Greed Index is still at 59, in the Greed zone, which shows that bullish sentiment hasn’t been shaken by these few red candles.
If it were me, I’d follow them into gold-related assets now, initially targeting the previous highs, and test the waters with a smaller position. As for crypto, I wouldn’t add to my positions just yet. I’d wait and see if SOL can hold around $111; if it breaks below that, I’d stay out for now.
Good thing I’m still awake—by the time you wake up, the market might already have made a move.
What’s interesting is that the broader market has been cooling off over the past couple of days. BTC has slipped to around $82,500, ETH to around $2,500, and SOL has been hammered down to around $111. Altcoins are awash in red, with only 2.2% up more than 10%. So while the market is shrinking, whales are leveraging up at just this moment.
I don’t need to say much about the clout these players have. Long positions worth over $10 million aren’t retail sentiment—it’s someone putting real money on the line. The Fear & Greed Index is still at 59, in the Greed zone, which shows that bullish sentiment hasn’t been shaken by these few red candles.
If it were me, I’d follow them into gold-related assets now, initially targeting the previous highs, and test the waters with a smaller position. As for crypto, I wouldn’t add to my positions just yet. I’d wait and see if SOL can hold around $111; if it breaks below that, I’d stay out for now.
Good thing I’m still awake—by the time you wake up, the market might already have made a move.