Why Bitcoin is not going up — PlanB’s view
According to analyst PlanB, the market is currently balanced between two equal forces.
About 50% are selling BTC: early investors who were hurt in 2021, people who only follow technical analysis, and believers in the four-year cycle who expect a drop after the halving.
The other 50% are buying: fundamental investors, large institutions, TradFi, and banks.
As a result, there is a stalemate: the price stays flat because buyers and sellers cancel each other out, until one side runs out of liquidity.
