Why can't the ETF daily absorb 1,400 units $BTC stop the whales from increasing their holdings by 45% and fleeing?
The city gate of 106,000 USD, Bitcoin's fourth attempt to use a ladder to reach the door gap - the trading volume is weak, MACD is gasping, what the bulls lack is not courage, but a battering ram!
1. Three groups of deadly data on the technical side!
1. Trading Volume: Surprising during the breakout, trading volume is 36.6 million contracts > 5-day average volume (31.64 million), but < 10-day average volume (43.15 million)
2. MACD: Divergence shows a clear bullish signal (DIF 83.6 > DEA 187.1) but the MACD bar at 541.3 has decreased by 26% from the previous high (top divergence confirmed)
3. Moving Averages: Hidden landmines, the price stands above all moving averages with strong positioning, trading volume death cross deepens: 5-day volume line (31.64 million) death crosses 10-day line (43.15 million) for the 4th day
2. Latest on-chain news!
1. On-chain alert: The amount of BTC held by whales drops sharply by 45%
2. Long-short hedging: Grayscale sells another 1,150 BTC, BlackRock ETF raises 450 million USD (setting a new high this week)
3. BlackRock's single-day fundraising breaks records and the Fed's September rate cut probability is 81%
I am Chan Zhong Tan Zen, top technical support, serving only those with vision and ambition!