 | It's clear that retail (= shrimp) is buying a lot during this bear market. There's a clear increase in entities with less than 1 Bitcoin during this bear market. So we are all buying the dip. Retail bought a lot during the Luna capitulation and the FTX capitulation. We are even buying the dip now. Usually this isnt a good sign but maybe we got smarter? Many of us are convinced that major institutions are buying. BlackRock is buying! Big US banks are buying! China is buying! There's also many comments like this: On-chain evidence also sugests we just had a period of accumulation (red = buying). All cohors (10K+, 1-10K, 100-1K, 10-100, 1-10, less than 1 were buying over the past months. Source: James V Straaten, 13 June 2023 So who on earth is selling then? Some Miners have been selling. Poolin sent a lot of BItcoin to exchanges to sell recently. But that doesnt explain the price behavior we have seen? Or am I mistaken? So, the narrative here is that everyone is accumulating. Shrimps, instutitons, China, banks. Who on earth is selling then? Are we lying to ourselves? [link] [comments] |
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