$BTC $ETH

The big pie is still treading water in place. Recent geopolitical conflicts have practically no impact on the US stock market, but the crypto circle is in a frenzy.

It's now June to August, and it’s almost the same every year: volatility + confusion + fake moves all clustered together.

The market doesn’t seem to be in much better shape either. The big pie is still hovering above 100K. At times like this, once the news takes a breather, whether it’s a cooling of conflicts or the Fed mumbling about some easing, there’s a high probability of a fake rebound, luring you in first and then stepping on you.

Spot trading is real chip trading, while contracts are leveraged bubbles. This indicates that the next move is likely to be a fake breakout controlled by contracts, followed by a harvesting phase.

In conclusion, most retail investors above 100K won’t even play in spot trading, and institutions are unwilling to take over because they want cheap chips, not six-figure high-position leeks. Right now, it’s just a performance, but who are they performing for? They’re performing for us leeks.

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