Bitcoin Price Dips Below 70,000

Bitcoin fell below 70,000, has the market peaked?

1/Bitcoin’s daily fluctuation of 15% is really normal and there is no need to be too sensitive.

2/ (Keep in mind that the cost of opening an ETF position starts at 42,000), the current average price of Bitcoin is around 65,000, corresponding to the figure below. Because BlackRock (ibit) is the largest institution at #ETFbitcoin‬ , refer to his data. Historical Grayscale (GBTC) is the largest institution. This situation is currently changing, so we cannot understand the present with reference to history.

(1): BlackRock’s chips were almost all the chips spit out by Grayscale. Grayscale took profits, and BlackRock and others gathered funds to build positions. They were still buying and selling until the time of publication.

(2): When the chips spit out by Grayscale find other people and want to take profits, they cannot smash the market. They can let it pick up the chips at a low point. Will it continue to sell and give up the position of the boss to BlackRock? ?

(3) Assuming that BlackRock’s average chips are 65,000, will he sell the chips at the current price?

(4) When BlackRock sells, the price will drop further. At that time, the institutions have the same thoughts and actions, and the purpose of selling is to obtain cheaper chips at the bottom.

(4) The U.S. economic data has adjusted from a high level to the end. If there is an interest rate hike, it will not cause substantial changes to the market. A correction will only allow more funds to enter the market.

, because smart people know what a hard-won opportunity this is.

(5) From a technical perspective, there are indeed multiple top signals. But the top won't appear in a day and needs confirmation. If you really want to sell high or go short. Then I hope you will be patient and wait for the confirmation to appear.

(6) In the market, the cycle is the largest. The current emotions have not really been ignited, but are just the beginning. The more complete the change of hands, the stronger the subsequent power. But the trend has been formed, don't go against the trend, go with the trend. $BTC $BNB

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