$70,000 for $BTC ? Forget it! Whales are already dumping their cash to you! 🚨🤯
While everyone is excited that Bitcoin has finally broken the psychological level of $70,500, I decided not to succumb to FOMO and take a look behind the scenes. The numbers on the screens make me a bit uneasy. 🤨
What I see right now:
Price: We have settled above $70k, gaining +2.74% over the day. It looks like a rocket, but...
Whales are in no rush to buy: Look at the Net Inflow. Over the last 5 days, the net outflow was almost -27 thousand BTC. This is a serious warning: while retail traders are jumping into long positions, large wallets are quietly moving into cash.
Annual picture: We are still -26.55% below last year's figures. So this growth is just a local victory within a large sideways movement.
My conclusion: Celebrating the breakthrough of $70k is good, but I wouldn't bet everything right now. The negative money inflow suggests that the stick could shoot in both directions. If whales continue to exit, we could quickly see a retest of $68k.
I personally am waiting for either a real inflow of money (green numbers in Net Inflow), or a correction for a better entry. 📉
Have you already jumped into this movement or are you waiting for confirmation? Will the market shave us this time?👇
#BTC #Bitcoin #BinanceSquare
{spot}(BTCUSDT)