Recently, it is not difficult to find that the trend of Bitcoin has been completely suppressed by #OG鲸鱼 . The so-called OG whales are those early players who held large amounts of BTC for many years and are now gradually selling off chips that have been inactive for years. #BNBATH900 . In addition, with the liquidation of the US and German governments and the repayment of Mt. Gox, these dormant Bitcoins are being released, directly pushing up the effective supply in the market. The buying demand cannot keep up, and naturally, the price can only fluctuate within a range. Arthur Hayes also mentioned that the market is digesting this large wave of 'unexpected supply'; although it will eventually be absorbed, the short-term trend is bound to face pressure. In other words, unless there is new capital inflow, it is difficult for the market to recover quickly. So where has the capital gone? #BTCWhalesMoveToETH . Some of it has flowed into altcoins and DeFi projects because there is currently not such a large selling pressure, and the short-term opportunities are relatively better. Data from trading desks also shows that some capital is strategically rotating, while BTC is still waiting for new demand to take over. To summarize: #HEMIBinanceTGE . OG whales, government liquidation, and Mt. Gox repayment are the three main reasons for Bitcoin's range-bound fluctuations; institutions are laying out plans, but the strength is still not enough; altcoins are taking the opportunity to attract some funds. In the crypto world, if you don't have a good circle and first-hand information, it is easy to be led by market sentiment. If you want to truly understand trends, seize opportunities, and join Su Ge in making profits! Welcome to the team!! $BTC $ETH $XRP .