Mignolet

Buying pressure from U.S. institutional investors is gradually weakening.

Bitcoin's price is rising, but institutional buying strength is fading a classic divergence.

This looks quite similar to what we saw back in April and May this year.

Bitcoin mining company "Ionic Digital" is selling Bitcoin again this week.

This is the first time we've seen "Ionic Digital" sell Bitcoin in about a year.

What's interesting is that Ionic Digital rarely sells its Bitcoin, but every time it has, we've seen some significant price moves in the Bitcoin market.

So, will it be green or red this time?
🟢🔴

We’re seeing something interesting in the "OTC Buy-Side Liquidity Flow" data.

There are signs that someone has been accumulating a large amount of Bitcoin through OTC trades.

I see two possible explanations:

1. Strategy may have made a large Bitcoin purchase for the first time in a while.
2. Or another major buyer has been quietly accumulating Bitcoin through the OTC market.

I’ve been saying for a while that the Bitcoin market still isn’t mature enough from an accumulation perspective.

If we had seen accumulation like the orange trend during the first half of this year (blue box), I probably wouldn’t have kept emphasizing the need for more time.

That’s how I see it. The market simply hasn’t gone through enough accumulation yet.

But today, we’re finally seeing some meaningful buy-side liquidity.

This gives me a reason to start looking at potential price declines from an accumulation perspective, rather than simply seeing them as bearish moves.

But as I’ve emphasized many times, one significant accumulation signal doesn’t mean Bitcoin is about to rally immediately.

I still think major players need more time to quietly accumulate Bitcoin.

And along the way, I expect plenty of events and price moves that will shake investor confidence and make people question their views.

So I’m in no rush to make any moves.

I’ll continue watching the market and the accumulation process over a much longer time frame, and act according to my own framework.