Galaxy Sells Over 80,000 Bitcoins for Early Investors from the Satoshi Era
Recently, Galaxy represented an early investor from the Satoshi era in the sale of over 80,000 bitcoins, valued at over $9 billion at current market prices. Galaxy stated that this transaction is part of the investor's estate planning strategy and marks one of the earliest and most significant exits in the digital asset market. #GalaxyDigital抛售比特币
Recently, I've been watching $MERL which is still climbing, making me shake my head. It rose 17% in 24 hours, spiking to $0.48, now fluctuating between $0.46 and $0.47, with its market cap entering the top 100. A bunch of people in the circle have started calling for a bull market, thinking it will reach new highs and double.
But the more I watch, the more something feels off. This is entirely the market maker pulling up low liquidity to entice retail investors to FOMO into buying, so they can sell at a high price. I am currently extremely bearish on $MERL, with three layers of pressure compounding, and almost no room for a rebound.
First, from a technical perspective: In the past few days, it has touched $0.47-$0.48 several times without breaking through; the resistance feels as solid as iron. Each time it spikes, it quickly falls back, and the candlestick structure has clearly weakened. The rise happens specifically during weekends to Monday mornings when trading volume is low, which feels like a deliberate attempt to create a false breakout and play with emotions. Once liquidity recovers midweek, large funds will crush the price mercilessly, confirming the top.
On the supply side, it's even worse: Around December 19th, there will be unlocks. Although the single unlocks are not particularly huge, the cumulative selling pressure has long been piling up. Early low-cost holders now have very considerable profits, and their motivation to cash out at highs is extremely strong. Any rebound before and after the unlock will be ruthlessly suppressed by this batch of sell orders, and prices simply cannot rise.
On-chain behavior has also revealed: Although there haven't been particularly exaggerated single transactions into exchanges recently, the distribution of large holders and signs of reducing positions at high levels are very obvious. As the unlock approaches, it's normal for some to hedge or prepare to sell. Once the market sees these signals, bearish sentiment will spread rapidly, prompting others to follow suit and turning a slow decline into an accelerated drop.
All three pressures are in place: technical ceiling, explosive supply expectations, and signs of capital withdrawal, with the intensity and certainty of selling pressure completely overpowering buying.
Next, it's highly likely to follow the classic pattern of "expected selling pressure → slow bottoming out → panic selling."
Personally, I am bearish on MERL and suggest shorting it at highs around $0.46-$0.48. Don’t wait for it to draw another big bullish candle to lure in the last batch of bulls. The short-term target is first below $0.4, and down to $0.35 is very possible. #MERL
Wall Street's current mindset is quite contradictory, with the core logic being that bad news is good news.
Market signals: Gold: Slightly up, indicating that people want to hedge against risks, but it's not yet at a panic level. Oil: Down, suggesting that people lack confidence in future economic demand. Bitcoin: Plummeting, as the most sensitive asset, it has first reacted to the risks of tightening liquidity.
Key focus on tonight's employment data at 21:30. Because if employment is weak, the probability of the Federal Reserve cutting interest rates next year will increase, which would be a major boon for the stock market; conversely, if the data is too good, rate cuts may be off the table, and the stock market might actually decline.
However, due to the previous long government shutdown, the statistics bureau's work was not completed, so the data may be inaccurate and subject to significant revisions later. Therefore, regardless of whether the data is good or bad, institutions are not daring to fully trust it, leading to everyone currently waiting and not willing to make heavy bets.
Recently, the surge of $MERL has indeed been impressive, with its market value directly jumping into the top 100. Many people have started to get excited, thinking it will reach new highs.
However, after carefully examining the data, I increasingly feel that this is just the operators luring in buyers at high levels. During times of average liquidity from the weekend to the beginning of the week, they force a surge to specifically entice retail investors to chase the price, allowing them to offload at high levels.
I am now thoroughly bearish on MERL, with a pattern dominated by short sellers, leaving little room for upward movement.
First, let's discuss the technical side: This surge has repeatedly touched 0.44-0.46 without breaking through, firmly stuck at resistance levels. Each time it rises, it falls back, and the candlestick structure clearly shows weakness. The rise occurs during periods of low trading volume, resembling a false breakout to create FOMO; once large funds return to normal, a rapid sell-off is likely.
The short-term peak is already very obvious.
Now, regarding the supply side: Unlocking will occur on December 19th. Although it is not particularly large (in the millions), coupled with the previous accumulation of anticipated selling pressure, the market's buying interest will surely take a step back. Early investors have a low cost basis, and now the price is significantly profitable for them, so a slight rebound will prompt some to cash out.
Before and after the unlocking, any surge can easily be ruthlessly cashed out by low-cost holders, severely compressing the price rebound potential.
Lastly, looking at on-chain activity: Recently, although I haven't seen particularly large single transactions entering exchanges, the overall capital movement and position distribution indicate that large players show signs of reducing their positions at high levels. With the unlocking approaching, some are definitely preparing hedges or planning to sell.
Once such signals emerge, they can easily spread, and as bearish sentiment expands, others will follow suit and sell, causing the price to decline rapidly.
With triple pressures stacking up: technical peaks, supply expectations, and signs of capital withdrawal, the intensity and certainty of selling pressure completely overwhelm buying interest.
Next, it is highly likely to follow the old pattern of anticipated selling pressure → slow decline → panic selling.
Personally, I am extremely bearish on $MERL, and I recommend shorting at highs around 0.45-0.46. Don’t wait for it to draw another false bullish candle to lure you in. The short-term target looks back at 0.35-0.4, or even lower. This surge is a classic baiting opportunity; don’t be blinded by the surface increase.
Many people are spreading rumors about cz being intimate with a certain beauty, with various intimate pictures of cz and the beauty circulating online!
It has been confirmed that they are all AI-generated.
Just now, cz officially responded to the relationship with the "Ambiguous Mistress."
It turns out that the mistress Tintin gave cz a gift at the Dubai conference as a KOL from a certain project party!
cz stated, are people too idle, having nothing to do after eating well?
Now looking at the square, it seems that the whole internet is bearish.
On-chain data, liquidation heat maps, sentiment indicators, all uniformly show "shorts dominate" and "bulls are in danger." To be honest, I am very familiar with this scenario. So familiar that I can tell at a glance — this is precisely the stage where institutions are most comfortable.
Many people will be "persuaded" by the data. If on-chain shows more shorts, then continue to short; if sentiment is extremely pessimistic, then it definitely needs to be dumped further. The logic sounds fine, but if you've been in this market long enough, you'll understand that data is never meant for retail investors to make money, but to create consensus. Once consensus is formed, the market becomes easy to navigate.
Consider the simplest principle:
If everyone in the market is already short, who is still selling?
If everyone’s position is short, once the price is pushed up a bit, who suffers the most?
The answer is simple: those who are ready to buy have long been prepared; they just aren’t in a hurry to tell you.
Many newcomers might feel that institutions are going "against everyone." In fact, it’s not against, but in line with human nature. The market loves to do one thing: when you are most certain, it gives you a reversal. The more unified the sentiment, the more extreme the trend becomes. A real big market movement often does not start in a sea of bullishness, but slowly rises amidst doubts of "how can it possibly go up?"
I have seen this too many times: After a decline, everyone starts to study macro factors, bad news, and why it should continue to fall; yet the price quietly moves sideways, grinding away at patience. Until one day, a not-so-noticeable bullish candle appears, shorts start to cover, and the bulls realize they were the last ones to understand.
Of course, I’m not saying you should blindly go long now. Experienced players never bet on direction; we only look at structure, rhythm, and who is being forced to liquidate. Just one thing is certain: when 90% of the content you see teaches you how to short, at this position, the risk may not necessarily be on the bullish side.
The market is neither good nor evil; it only transfers money from those with the heaviest emotions to those with the most patience.
Which side you stand on is actually more important than whether you are bullish or bearish.
$MERL Recently, this wave of rebound has seen a 24H increase of over 17%, with the price briefly breaking above 0.44 USDT, currently oscillating in the 0.43-0.45 range, and the market capitalization has also entered the top 100, showing a good momentum.
However, in reality, this is more about the behavior of market makers pulling the price up during the weekend when liquidity is lower, which can easily induce retail investors to chase the rise.
From a technical perspective, the resistance zone of 0.44-0.46 has been tested multiple times without effectively breaking through, and the strength of the rebound is getting weaker, with the overall structure already turning weak. The difficulty of continuing to attack in the short term is very high, and it may shift to a downward trend at any time.
The pressure on the supply side is even greater, as a concentrated unlocking is expected in mid to late December, with a large number of low-cost tokens entering circulation. The market's expectation of this wave of 'supply flood' will suppress buying enthusiasm, and holders tend to reduce their positions when prices are high, significantly compressing the rebound space.
On-chain data also shows that large holders have recently made large-scale transfers to exchanges, which usually indicates preparation to sell, especially on the eve of unlocking. This behavior is easily interpreted by the market as a bearish signal, further amplifying the expectation of selling pressure.
In summary, with technical resistance, the upcoming unlocking selling pressure, and unusual on-chain capital movements, the combination of these three factors indicates that the certainty and intensity of selling pressure are significantly higher than the support from buying, resulting in a clear bearish pattern in the short term. It is recommended to pay attention to resistance levels near 0.44-0.46 and consider placing short positions when prices are high.
In 2022, a classmate of mine at Byte had an annual salary of 800,000, which everyone envied. He sold his house to speculate in this, and after a night of disaster, his once bright life suddenly collapsed. The next day on the way to work, he felt dead inside, got into a car accident, and was sent to the ICU. After being rescued, he lost a leg, became unable to take care of himself, lost his job, and his fiancée, whom he was engaged to, also left. Being an only child, his parents, who were supposed to be retired, now have to take care of him at home while also looking for work outside. $LUNA {spot}(LUNAUSDT) $LUNC {spot}(LUNCUSDT)
Recently, $MERL has indeed been a bit challenging. The position at 0.5 has been charged three times without success; each time it gets close, it turns back, and there's a bit of an increase in volume, clearly indicating that someone is waiting above with orders to sell.
Additionally, in mid to late December, there will be a routine unlocking of tens of millions of coins, and in the past few days on-chain, several large holders have been seen withdrawing coins to exchanges. Although this is just normal rebalancing, the market tends to overthink these actions, and sentiment quickly sours.
Now, the rebound feels weak, and trading volume isn't picking up; short-term trading is indeed not fun.
My feeling is that for the second half of December, there is a high probability it will still be biased towards weak fluctuations, and the rebound space is likely limited, so don't hold too high expectations.
In terms of operations, let's keep it simple: • For those with heavy positions, take the opportunity to short when it rebounds to around 0.42-0.45; right now, 0.41 is a good short position.
• For those with light or no positions, don't rush to get in; wait until the unlocking period is over and the price and volume stabilize before considering.
The market is starting to fluctuate again, success or failure hinges on this!
If the market cannot break above 960 next week, it is likely to head downwards. The U.S. is having a meeting, and Japan is raising interest rates. The interest rate hike in Japan is actually not too concerning; the negative impact has already been priced in. Although it has been priced in, there will still be real capital flow, and it won't happen overnight.
This is easy to understand: the impact of news will be instantaneous, while sustained negative and positive effects will last for a long time. For example, when the central bank injects liquidity, it can't be expected to immediately result in a price increase; the money doesn't flow in that quickly. Various loans and transfers need to take place before gradually entering the market.
Today, the market has basically fluctuated between 910 and 890.
24h increase of 38%, trading volume shot up to 48 million dollars, the on-chain real trading is strong, completely not comparable to air coins.
Why is this a real opportunity? Because Audiera is not just another old IP selling nostalgia with a high FDV to cut retail investors. In comparison to the neighboring MapleStory: 3 billion dollars completely diluted valuation + high unlocking upon listing, retail investors get trapped as soon as they enter. What Audiera presents is a stark contrast: ultra-low initial circulation + single-token model, with only 5% in circulation!
600 million historical users + 5 million real active on-chain users, the traffic is not just talk!
AI Payment has already generated a solid income of over 148,900+ $BEAT , and all of it is used for periodic destruction!
The first batch of 125,000 $BEAT has been permanently sent into the black hole, with fixed weekly burns transparently on-chain.
This is the real cash flow + deflationary flywheel: users listen to music, AI generates, and payments are settled all using Beat → The platform has real income → All income is used to buy back and destroy → Supply continuously decreases → Price climbs. Web2 music giants × AI × payment scenarios × token economy, this is the most hardcore narrative for 2025. MapleStory proved that IP can be valuable, while Audiera is proving: old IP on-chain 2.0 can play out completely different tricks. Now with low circulation, real income, aggressive destruction, and explosive trading volume—what are retail investors waiting for? Get in now, don’t regret it when it’s ten times the price later!
Everyone is mocking Majige, asking if the pipes at home are clogged, flowing money.
I can only say: mocking Majige is the most shortsighted thing, mocking Majige and believing in faith is a lack of understanding.
Satoshi Nakamoto, Vitalik Buterin, Zhao Changpeng, Sun Yuchen… all these big names have set an example: only those who believe in BTC for the long term can become big winners.
After 16 years of BTC development, blockchain has become the new investment direction.
In the entire cryptocurrency world, besides BTC, there are also coins like $ETH and $SOL that have high security, stable income sources, deep moats, and will not be easily replaced.
Shorting may make money for a while, but over a longer time, only the bulls can thrive.
Majige's strategy is very simple: low leverage long on ETH and SOL, occasionally choosing popular altcoins like $HYPE .
ETH, the king of public chain wars, digital oil, the existence closest to BTC.
SOL, the rising star of public chains, is the most likely to surpass ETH in potential among all public chains.
HYPE, although it's an altcoin, has high popularity, and the concept is very hot; it won't go to zero in a short time.
The contracts that Majige opened are the most loved by spot traders, the hardest to go to zero.
In other words: Majige's strategy is actually a buy-and-hold strategy for spot traders, only he magnifies income and risk with leverage.
Majige's operations will make one doubt life during volatile markets and bear markets.
But as long as the market turns around, there's no need for a super bull; just a big rise or a small bull can lead to great profits.
Majige can face liquidation countless times; he just needs to win once to turn everything around🔥
This is Majige's battle strategy.
This is the most steadfast belief: only go long, only believe that cryptocurrency is in a long bull market, never a bear market; all declines are just for washing positions, solely to better pump prices.
Of course… ordinary people should refrain from playing the Majige mode unless you have already 'won' once. {future}(HYPEUSDT) {future}(SOLUSDT) {future}(ETHUSDT)
On the technical side, to put it simply: the barrier at $0.5 is currently impossible to pass, and the more it tries, the weaker it gets, with signs increasingly favoring the bears.
In the past few weeks, MERL has touched around $0.5 three times, and each time it nearly reaches it before turning back, with the closing session consistently showing long upper shadows, a typical case of 'smash at the point'.
What's worse is that during these three attempts, although the trading volume appears to have increased, it is mostly selling pressure, and the buying side simply can't hold up. This reflects a situation where 'some want to run, but no one dares to catch'. The resistance level has been smashed down hard.
The most recent rebound even showed a clear divergence between price and volume: the price barely crept up a bit, while the trading volume actually shrank, indicating that the funds pushing the price up are already feeling hesitant and do not dare to put real money into it. The sustainability of the rise is almost zero.
Looking at the broader environment, BTC and ETH have also been fluctuating at high levels and retracing downwards these days. The overall risk appetite for the sector is weak, and funds are more inclined to realize profits. For a mid-cap like MERL to break through $0.5 in such an atmosphere is quite challenging.
Therefore, the current technical formation is leaning towards the bearish side, with almost no space above $0.5 in the short term, unless one day it can stabilize with a significant volume surge; otherwise, each rebound is likely to follow the rhythm of 'smash at the point'.
Personally, I believe that until we see a real breakthrough signal, the risk of chasing highs is too great, and it is better to short than to go long.
Yesterday, Brother Ma Ji staked 33.08 million dollars $ETH, betting on the Federal Reserve's interest rate cut. Indeed, the Federal Reserve cut interest rates in the early morning. But within 24 hours, 100,000 people liquidated, exceeding 200 million. Brother Ma Ji's 33.08 million is also at a loss. What shocked me the most is not these numbers, but that I discovered a cruel pattern. The cryptocurrency circle is not about playing events, it's about playing expectations. The logic of retail investors: the interest rate cut has happened → this is good news → buy in. The logic of institutions: interest rate cut expectations arise → buy in advance → interest rate cut lands → sell. This is what everyone refers to as 'buy the expectation, sell the fact.'
Duan Yongping's recent series of activities, including a long conversation on Xueqiu and a live chat with Wang Shi and his wife, made me realize that things are not simple. Sure enough, the shoe dropped. Bubugao and Vivo teamed up with Chery to enter the Zhontai market, and then turned around to heavily invest in Tesla, even specifically mentioning a Model Y and praising its autonomous driving. This situation is quite ironic. Not long ago, he passionately claimed not to like Musk, and now he is genuinely supporting him with real money. What does this indicate? It indicates that in the face of the temptation of a trillion-dollar market, personal preferences mean nothing. The big players have a keen sense; this series of arrangements is merely acknowledging that the main battlefield for new energy is in China. As for whether Zhontai can be saved by this golden touch, it is truly hard to say. In the adult world, there is no love without reason; it is merely about seeing through the trend and securing the position first. $SOL {future}(SOLUSDT)
$MERL is currently still in a bearish trend, and there's no rush to catch the bottom in the short term. Over the past month, it has been pushed down three times after approaching 0.5, with each subsequent high being lower than the previous one, and the strength of the rebounds becoming weaker, forming a typical descending channel structure, with selling pressure clearly dominant. The market environment is also not friendly, with BTC and ETH continuing to decline, and funds flowing out, making it difficult for altcoins to stand out on their own.
Personally, I regard the area between 0.20~0.22 as a key observation point for three reasons:
1. The project's early costs are primarily within this range, and if it falls here, there is a high probability of a bottom-supporting action (not necessarily a hard pull, but at least it won't be allowed to break through);
2. A large number of retail investors' psychological defense lines are also concentrated here, and maintaining this level may form support, while breaking it could easily trigger panic selling;
3. From a trend perspective, this is the watershed for whether the bears can continue to exert force.
In terms of operational thinking, I suggest maintaining patience for now:
• If there is a rebound to around 0.45~0.48 and it faces resistance again and falls back, consider lightly shorting, with a stop-loss set at the previous high;
• If it directly breaks down the platform level of 0.28~0.30 with increased volume, then follow the trend to short, initially targeting around 0.22;
• For those wanting to go long, it’s best to wait until there are real signs of a bottom in the 0.20~0.22 area (such as a large down shadow with increased volume, significant transaction increases, or substantial positive news from the project) before taking action. In summary: the current trend is still dominated by bears, and until 0.20~0.22 confirms stabilization, it's best to remain observant or follow the bearish trend, cash is king, and avoid rushing to take the wrong side.
Friends who are watching $MERL can give it a follow, and I will update my views when we reach key positions.
$MERL is currently controlled by bears, don't think you can catch the bottom this time, around $0.2 is likely where the real opportunity lies.
No need to elaborate on the overall market, BTC and ETH have caused a significant drop, and funds are clearly fleeing, altcoins simply can't withstand it.
$MERL has touched around $0.5 three times this month, all ruthlessly shot down. The trading volume looks lively, but in reality, it's all just air; the buying can't keep up. Now, each high is lower than the last, and the rebounds are getting shorter, the bearish structure is obvious.
I've been keeping an eye on the $0.2 level for three main reasons:
1. The project's cost is essentially in the range of $0.18-$0.22, and usually, when it drops to this level, it won't just pass without any reaction;
2. Retail investors' psychological barrier is also around here; if it holds, there might be a chance to breathe; if it breaks, panic selling will ensue;
3. Key trend point: if it stabilizes, it indicates that the bears are starting to weaken; if it breaks, it will completely freefall, with plenty of space below. So don't rush to catch the bottom now, and don’t expect it to suddenly start a bullish trend.
If you really want to operate, wait for these two signals, which are the most reliable:
• If it rebounds to around $0.45-$0.48 and fails to go through, then gets pushed down again, you can slowly build a short position;
• Or wait for a direct breakout below the previous low; if it breaks, follow it, set your stop loss well, and don't stubbornly hold on.
In summary: the bearish trend of MERL hasn't changed; don't easily go long before $0.2. Wait around $0.2 to see if it continues to drop or shows signs of rebounding; the market will provide the answer. Hold your cash well, act in accordance with the trend, and don't go against it.
Brothers watching this coin can hit follow; when I see key positions, I'll shout out again.