Next profit-taking target at $87,380.00
Treasuries and funds that accumulated positions in the lower $70,000.00 range have scheduled massive algorithmic sales at $87,380.00 to secure quarterly returns before the end of September. Last Tuesday’s rejection at $87,266.00 was caused precisely by the chain reaction triggered by the execution of these orders.
Large institutions and market makers use advanced trading algorithms. So when the price hit $87,266.00 last Tuesday and their orders were executed, their systems automatically refilled new blocks of orders (Limit Sell) at that same level. For them, that is the exit value zone set for the end of the third quarter (rebalancing on September 30).
Iceberg Orders: Institutional orders split into small portions so as not to spook the market. On Tuesday, only the “tip” was executed; the rest is still waiting there.
#CircleMints500MUSDCOnSolana
$BTC
Treasuries and funds that accumulated positions in the lower $70,000.00 range have scheduled massive algorithmic sales at $87,380.00 to secure quarterly returns before the end of September. Last Tuesday’s rejection at $87,266.00 was caused precisely by the chain reaction triggered by the execution of these orders.
Large institutions and market makers use advanced trading algorithms. So when the price hit $87,266.00 last Tuesday and their orders were executed, their systems automatically refilled new blocks of orders (Limit Sell) at that same level. For them, that is the exit value zone set for the end of the third quarter (rebalancing on September 30).
Iceberg Orders: Institutional orders split into small portions so as not to spook the market. On Tuesday, only the “tip” was executed; the rest is still waiting there.
#CircleMints500MUSDCOnSolana
$BTC
