A quick note on fund movements this morning, so I can compare later.
Four new wallets received 1127 $BTC from Wintermute, worth around $93.45 million. Based on this transaction, the average price was around $82,900.
Meanwhile, BTC is at 82,818, up 0.09% over 24 hours—basically flat. But it already touched an overnight high of 84,898 and has now pulled back by more than 2%.
I’m treating these two things as observations, not signals.
First, new wallets receiving coins from a market maker could mean they’re stocking up, or it could just be an intermediate transfer. You can’t guess the intent from one move alone.
Second, what really matters is whether these coins next move to exchanges or just sit there. Only if they go to exchanges can you talk about selling pressure.
Third, when the price pulls back more than 2% from a high while the 24-hour change is still positive, that kind of tug-of-war is the hardest to deal with—it feels bad to chase and bad to sell.
$ETH is at 2439, down 0.34% over 24 hours, moving in step. $ZEC is relatively flat at 1298, up 2.47%.
My own rule of thumb is to trade less on days like this when things are unclear, and wait for more data. This isn’t advice—don’t blindly copy me.
Four new wallets received 1127 $BTC from Wintermute, worth around $93.45 million. Based on this transaction, the average price was around $82,900.
Meanwhile, BTC is at 82,818, up 0.09% over 24 hours—basically flat. But it already touched an overnight high of 84,898 and has now pulled back by more than 2%.
I’m treating these two things as observations, not signals.
First, new wallets receiving coins from a market maker could mean they’re stocking up, or it could just be an intermediate transfer. You can’t guess the intent from one move alone.
Second, what really matters is whether these coins next move to exchanges or just sit there. Only if they go to exchanges can you talk about selling pressure.
Third, when the price pulls back more than 2% from a high while the 24-hour change is still positive, that kind of tug-of-war is the hardest to deal with—it feels bad to chase and bad to sell.
$ETH is at 2439, down 0.34% over 24 hours, moving in step. $ZEC is relatively flat at 1298, up 2.47%.
My own rule of thumb is to trade less on days like this when things are unclear, and wait for more data. This isn’t advice—don’t blindly copy me.