Be cautious about the current upswing

Hi cc!

I noticed something interesting about the current upswing in the market. When you set the BTC/USD chart to a 5 minute interval, you can clearly see only one massive order (or batch of orders) within 5 minutes started this price hike.

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One massive 5m candle

It's reasonable to assume that only one whale was behind this and to me it's kinda frightening how one person or institution can move the whole market like that.

So maybe when the price rises high enough we will see an opposite candle of the whale selling and taking a nice profit and the market will be where it started. Or this was just done to liquidate shorts. Either way I would not treat the current positive price development as a new market wide trend just yet.

What do you guys think, am I being too paranoid?

Edit: Link to the chart I used (you should be able to confirm that candle on any trading platform though): https://www.binance.com/en/trade/BTC_USDT?layout=pro&type=spot

Set time to 5m on the top left.

Edit2: Because someone in the comments asked, here is the same 5 minute view around the time of the last ATH of 69k. This time the buys were spread out over ~45 minutes which looks a bit more (but not entirely) organic to me. But keep in mind: Getting near the 69k took days of upwards price movement before this spike.

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https://preview.redd.it/2oec7wi6b5q81.png?1229&format=png&auto=webp&s=d16163ea73d8f2f7e0a32bfe646bea1dbbb653ce

Edit3: One of the commenters pointed out that this could be Terras purchase of BTC reserves, though I'd assume such huge trades would be done OTC, a portion of it could have been done on exchanges, dunno.

^{PS: Sorry for destroying the hopium we all need right now.}