This is a Wyckoff Schematic for BTC. Bitcoin is quite bearish in the short term, although market sentiment seems 'fear', it is actually not the case. The number of 'pumps and dumps' shit coins are still at ATH, no retail nor institution money flooding in, BTC dominance ATL, futures open interest high, on-chain data still weak. Price actions are mainly driven by futures & options speculators, not spot buyers. Buyers have to reaccumulate.
I agree with most everything you said, except the part about on chain data looking weak.
orange_sakura
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@pingygoogs, Binance has a large BTC inflow. Someone is dumping. Note that the futures open interest in Binance is huge, could be a deleveraging event.
Alpha_54321
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Excellent Job ,thanks
orange_sakura
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OK. this drop is faster than my prediction, which is actually more healthy in the long run. I'm pretty optimistic about the run to 100k after this huge capitulation.