So for those who has been in a few Crypto bull markets it is nothing new that Money/winnings from BTC pours down to ALTS. But what happens next is to describe as a series of bullruns. Where alts go down 25-50% a day just so that you get as many BTCs/satoshis as possible to be on the next BTC train while draining alts. This time the stablecoins plays a much larger role than previous cycles.
In 2020 we had around 5 bil usdt printed.
Right now we are at 82.264 B
USD
+2.469M
This is only counting USDT, not every stablecoin.
Instead of moving money to ALTS, they are moved into stablecoins.
I dont think everyone has exited the markets.
We are at the local bottom at least if we look at Money flow, it screams buy.
Structurally we did bounce at a major support level. Almost every indicator on the chart is pointing up.
We should see a sharp bounce.
When BTC moves alts will move. But Btc will take the lead as always. If we get supply shock at these levels count on a huge move.
Not Financial advice.
In 2020 we had around 5 bil usdt printed.
Right now we are at 82.264 B
USD
+2.469M
This is only counting USDT, not every stablecoin.
Instead of moving money to ALTS, they are moved into stablecoins.
I dont think everyone has exited the markets.
We are at the local bottom at least if we look at Money flow, it screams buy.
Structurally we did bounce at a major support level. Almost every indicator on the chart is pointing up.
We should see a sharp bounce.
When BTC moves alts will move. But Btc will take the lead as always. If we get supply shock at these levels count on a huge move.
Not Financial advice.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.