BTC is about to close another red weekly candle
That makes five weeks in a row
Since 2017,
five consecutive red candles like this have only happened twice
I’m not saying history simply repeats itself
It’s just that this number is right there
And it’s hard not to notice
This week has been pretty split
Spot ETFs saw net outflows of 1.28 billion in the first two days of November
Net flows for the year have turned negative
BlackRock’s IBIT alone saw over 400 million redeemed in a single day
Institutions are voting with their feet—there’s no spinning that
But on-chain, the other side is doing the opposite
SOPR has fallen below 1
Meaning most of the coins moving on-chain right now
are being sold at a loss
MVRV has also slipped back toward 1.0
But at the same time,
whale wallets holding at least 1,000 coins
have been moving coins off exchanges for the past ten days
Realized cap is still rising
Price isn’t moving, but coins are changing hands
On one side, ETF redemptions
On the other, long-term holders buying around 75,000
This isn’t consensus
It’s a full-blown disagreement
75,000 is the line to watch now
If it holds, Tuesday’s CPI report still leaves room for a story
If it doesn’t, the next level in focus is 73,000
Are you waiting for CPI before making a move,
or have you already been buying in batches around 75,000?
$BTC $ETH
#市场观察 #比特币 #Weekly
This is not investment advice. DYOR. Trading involves risk.
That makes five weeks in a row
Since 2017,
five consecutive red candles like this have only happened twice
I’m not saying history simply repeats itself
It’s just that this number is right there
And it’s hard not to notice
This week has been pretty split
Spot ETFs saw net outflows of 1.28 billion in the first two days of November
Net flows for the year have turned negative
BlackRock’s IBIT alone saw over 400 million redeemed in a single day
Institutions are voting with their feet—there’s no spinning that
But on-chain, the other side is doing the opposite
SOPR has fallen below 1
Meaning most of the coins moving on-chain right now
are being sold at a loss
MVRV has also slipped back toward 1.0
But at the same time,
whale wallets holding at least 1,000 coins
have been moving coins off exchanges for the past ten days
Realized cap is still rising
Price isn’t moving, but coins are changing hands
On one side, ETF redemptions
On the other, long-term holders buying around 75,000
This isn’t consensus
It’s a full-blown disagreement
75,000 is the line to watch now
If it holds, Tuesday’s CPI report still leaves room for a story
If it doesn’t, the next level in focus is 73,000
Are you waiting for CPI before making a move,
or have you already been buying in batches around 75,000?
$BTC $ETH
#市场观察 #比特币 #Weekly
This is not investment advice. DYOR. Trading involves risk.