What have you done! Update time
To everyone who held from May low as I mentioned previously, congrats on your profit!
Let's keep it sweet and simple:
1) You see there simply wasn't enough volume to pump the king (btc) to 100K.
2) Open Interest kept rising like a B*** to levels never seen before cause the money was flowing to pump shitnometrics token, midperp wasn't getting enough attention and BTC the least (zero demand). As we rose to ATH, money just quickly flew to low caps, starting a mini alt cycle.
3) Lot of new money came into the market recently, giving us a warning that rally getting unsustainable. So, big money gotta take the small money. It's only necessary!
What to digest from all this?
- I am not calling it a top. We are gonna get to 100K, after a quick rapid flush and recovery with smart money travelling back to BTC and midcaps. As it should be.
- De-risk by taking profit and keeping some liquidity to buy the dips if it gives.
- Cycle gonna extend. This cycle won't be like previous cycle. We will have multiple local tops and bottoms in my view.
Let's keep it sweet and simple:
1) You see there simply wasn't enough volume to pump the king (btc) to 100K.
2) Open Interest kept rising like a B*** to levels never seen before cause the money was flowing to pump shitnometrics token, midperp wasn't getting enough attention and BTC the least (zero demand). As we rose to ATH, money just quickly flew to low caps, starting a mini alt cycle.
3) Lot of new money came into the market recently, giving us a warning that rally getting unsustainable. So, big money gotta take the small money. It's only necessary!
What to digest from all this?
- I am not calling it a top. We are gonna get to 100K, after a quick rapid flush and recovery with smart money travelling back to BTC and midcaps. As it should be.
- De-risk by taking profit and keeping some liquidity to buy the dips if it gives.
- Cycle gonna extend. This cycle won't be like previous cycle. We will have multiple local tops and bottoms in my view.
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