⚠️🚨 BTC’s 7% Pump: Does the Volume Really Justify It? ⚠️🚨
If we talk about BTC’s entire 24 hour pump, and look at it from a mathematical perspective, the size of this pump is much larger than what the reported volume alone would normally suggest.
BTC’s total supply is 21 million, the total market cap is around $1.74 trillion, and the total 24-hour trading volume is around $54 billion.
Now, $54 billion of volume is only around 3.1% of BTC’s total market cap. But BTC has pumped more than 7% within 24 hours. This does not mean that BTC can mathematically only pump %3 because trading volume is not the same thing as actual capital inflow. The same capital can be traded multiple times.
However, it clearly shows that the 7%+ move cannot simply be explained by saying that $54 billion of fresh money entered the market. Volume and actual net inflows are two different things.
Despite this, BTC has already moved toward $87K, and it is even possible that it gets pushed toward $88K / $90K in the same way. But I still cannot trust this entire pump because there is a WAR going on in the market. Almost all the major news that came last week was negative. Oil prices pumped, gold prices came under pressure, and despite all the negative news that came into the market, we did not see the expected negative impact on BTC.
Instead, the market kept getting pushed higher and higher through what I believe is manipulation, and also around $980 million in short positions were liquidated too.
You may think a bull run is coming, but I am still bearish.
When the market drops, you will understand my point. Even today, we saw major liquidations on the short side. When it becomes the long traders’ turn, then you will understand how badly traders can get trapped.
If you still don’t understand my point, go through all my previous posts. You may understand the bigger picture and increase your knowledge.
Anyway, whoever needs guidance can let me know.
#crypto
If we talk about BTC’s entire 24 hour pump, and look at it from a mathematical perspective, the size of this pump is much larger than what the reported volume alone would normally suggest.
BTC’s total supply is 21 million, the total market cap is around $1.74 trillion, and the total 24-hour trading volume is around $54 billion.
Now, $54 billion of volume is only around 3.1% of BTC’s total market cap. But BTC has pumped more than 7% within 24 hours. This does not mean that BTC can mathematically only pump %3 because trading volume is not the same thing as actual capital inflow. The same capital can be traded multiple times.
However, it clearly shows that the 7%+ move cannot simply be explained by saying that $54 billion of fresh money entered the market. Volume and actual net inflows are two different things.
Despite this, BTC has already moved toward $87K, and it is even possible that it gets pushed toward $88K / $90K in the same way. But I still cannot trust this entire pump because there is a WAR going on in the market. Almost all the major news that came last week was negative. Oil prices pumped, gold prices came under pressure, and despite all the negative news that came into the market, we did not see the expected negative impact on BTC.
Instead, the market kept getting pushed higher and higher through what I believe is manipulation, and also around $980 million in short positions were liquidated too.
You may think a bull run is coming, but I am still bearish.
When the market drops, you will understand my point. Even today, we saw major liquidations on the short side. When it becomes the long traders’ turn, then you will understand how badly traders can get trapped.
If you still don’t understand my point, go through all my previous posts. You may understand the bigger picture and increase your knowledge.
Anyway, whoever needs guidance can let me know.
#crypto
