The smallest cohort (orange) on FireCharts Binned CVD continues to TWAP $BTC . If you think that’s retail getting rekt, it’s not. This isn’t a sneaky whale trying to hide intentions - it's a tactical move in a thin order book likely executed by an institutional TWAP bot. By switching the live FireCharts to Absolute CVD we can see that Orange has purchased ~$12M worth of BTC in $100 - $1000 sized orders over the last 12 hours while managing to keep price in a < 1.5% range. The larger order classes could not deploy that same volume in larger orders without pumping price higher. Learn how to get a better understanding of what’s happening beneath the candles here. https://mi1.pw/xmi