BTC swept the lows, what now? The smart money cohort is now betting mainly on what they think won't happen, instead of betting what they think will happen next. They are fading a strong bounce, the 75k and 65k blocks are red. They are fading 60k, but a smaller sub-cohort is betting on 57.5k. My interpretation: They are expecting BTC to consolidate here for a bit. No immediate strong moves expected. The daily flow chart (image 2) printed negative net flow yesterday but interestingly the cumulative flow is positive for the last 30d despite this violent pullback. Or perhaps because of it 🫡 Enjoy your weekend ☕
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