The largest short seller is still selling, is the rebound over?

BlackRock has again deposited coins! Just now, it deposited 2,822 BTC (worth $243 million) and 36,283 ETH (worth $101 million) into Coinbase Prime. This is not an isolated event, but a continuing saga:

November 18: Deposited 3,064 BTC and 64,707 ETH (about $478 million)

November 14: Deposited 2,610 BTC and 43,240 ETH

November 13: Also deposited 363 BTC and 26,610 ETH

In simple terms, BlackRock has continuously transferred billions of dollars worth of Bitcoin and Ethereum to exchanges in just ten days.

These operations are usually interpreted as signals of preparation for sale, as depositing assets into exchanges facilitates quick selling in the market. Such concentrated and large deposits undoubtedly bring immense potential selling pressure to the market, like a mountain hanging over one's head.

The market has just experienced a sharp decline, with Bitcoin sliding from a peak of $126,000 to around $90,000, making it quite fragile. Now, with one of the largest short sellers still offloading, this rebound is likely difficult to sustain.

Old Luo advises: watch more and act less in the short term, and don't rush to buy the dip. The market needs time to digest this selling pressure, and when institutions like BlackRock stop depositing or even start withdrawing coins, it will be a more prudent time to enter the market.

What do you think about this? Feel free to discuss in the comments. #加密市场回调 $BTC