WikiBit Crypto Weekly Market Frontline: The Calm Before the Storm? Whales Are “Fighting Each Other”
This week, Bitcoin (BTC) has been hovering around $63,000, looking almost frozen in place. Spot trading volume has dropped to the lowest level since 2019! The market has entered “garbage time” — nobody is trading. Its more hypnotic than watching a group of elderly people practicing Tai Chi. So, what are whales doing? On the surface, everything looks calm. But beneath the water, the whales are fighting! Some major players are quietly accumulating, scooping up 46,000 BTC in the past 60 days. Meanwhile, another whale opened a massive leveraged long position around $63,700, pushing the position size to nearly $110 million. At the same time, another group of large holders has been aggressively selling and dumping. The market is showing extreme disagreement between bulls and bears: One side is shouting “buy,” while the other side is selling hard. Basically, they are all calling each other idiots. Where is institutional money going? The ETF data looks impressive — 8 consecutive days of net inflows sounds bullish. But when you look closer, the entire trend is being driven almost entirely by BlackRock. Other institutions are either seeing zero inflows or experiencing outflows. If BlackRocks buying momentum slows down, this market could flip very quickly. Macro environment: The situation is getting complicated.Tanker tensions around Iran are raising