Altcoin market (Exclude BTC) begins to capitulate
BTCÐ price had fallen rapidly more than 5% in the past hours.
Altcoin market (Exclude BTC) begins to capitulate, and BTC Dominance starting to rise during 5/10-5/12 (Pic. 2):
upload.cc/i1/2022/05/12/Ix9kcJ.png
Changes of BTC Exchange Reserve: -17,464 BTC during 5/10-5/12 (CryptoQuant).
This is Top 69 huge whale's romance, they buy(net) more than +32,328 BTC during 5/10-5/12 (Rich lists).
For a long-term, it would be a good time to build the position in the recent when retail investors are panic (buy in batches) (Pic. 1):
upload.cc/i1/2022/05/12/Mu6FQ1.png
On the other hand, BTCUSDLONGS in Bitfinex hits its ATH, BTC price and BTCUSDLONGS are usually negatively correlated.
How will it develop next? (Pic. 3):
upload.cc/i1/2022/05/12/FqWUKg.png
BTW, USDT lose its pegs again, pay attention to the risk, and this situation also happened in 2020/3 when investors were panic (Pic. 4):
upload.cc/i1/2022/05/12/O38ToY.png
Good luck and Enjoy the market!
--------------------------
Analyst of cryptocurrency Yu-Shiuan Chen (CryptoQuant & Tradingview Taiwan)
Altcoin market (Exclude BTC) begins to capitulate, and BTC Dominance starting to rise during 5/10-5/12 (Pic. 2):
upload.cc/i1/2022/05/12/Ix9kcJ.png
Changes of BTC Exchange Reserve: -17,464 BTC during 5/10-5/12 (CryptoQuant).
This is Top 69 huge whale's romance, they buy(net) more than +32,328 BTC during 5/10-5/12 (Rich lists).
For a long-term, it would be a good time to build the position in the recent when retail investors are panic (buy in batches) (Pic. 1):
upload.cc/i1/2022/05/12/Mu6FQ1.png
On the other hand, BTCUSDLONGS in Bitfinex hits its ATH, BTC price and BTCUSDLONGS are usually negatively correlated.
How will it develop next? (Pic. 3):
upload.cc/i1/2022/05/12/FqWUKg.png
BTW, USDT lose its pegs again, pay attention to the risk, and this situation also happened in 2020/3 when investors were panic (Pic. 4):
upload.cc/i1/2022/05/12/O38ToY.png
Good luck and Enjoy the market!
--------------------------
Analyst of cryptocurrency Yu-Shiuan Chen (CryptoQuant & Tradingview Taiwan)
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