Today I would like to bring up the issue that most of my friends are concerned about: are the market makers dumping the market now, are the big whales starting to flee, is the bull market over? I don’t think so. Judging from the data, although the last 24 hours have been full of negative information,#BTChas maintained a very low turnover rate on the chain. This is what I have been emphasizing before. It is very difficult for investors to release the BTC in their hands due to market dumping.

From the data this time, we can see that the earlier profitable investors are completely indifferent to the price drop and hardly participate in the turnover. The data of BTC on the chain is the most fair, and no transfer will be ignored. Therefore, the conclusion is that the so-called dog dealers have not crashed the market unless they are losing money, and the whales have not left the market unless they are losing money.

Because it is obvious from the data that 75% of the BTC involved in the turnover are investors who are losing money, and the number of profitable investors leaving the market is very small. Let us think about how many times the price has fluctuated widely around $65,000. If the investors were not firm, they would have left long ago. Those who have held on to the price until now all want to continue waiting for the climax of the bull market. After all, the bull market after the halving has not started yet.On the other hand, the support of around $65,000 that was talked about two months ago has not changed yet. Investors between $64,000 and $69,000 have not left the market on a large scale. Those who hold the largest amount of BTC do not leave, and the number of people who can participate in the turnover is very limited. The main reason for the current price drop is the liquidity problem. Without sufficient depth, even one BTC can drop by $10,000. These people do not leave, not because they are stupid, but because they do not care about the short-term price.

Those who care about short-term prices have already changed hands. This is why the amount of BTC in exchanges is decreasing. This is because most investors will not withdraw their funds from exchanges if they want to participate in short-term turnover, and those who withdraw their funds from exchanges have no intention of selling them in the short term.

I am not making this up. You can see from the inventory on the exchanges that even though the price of BTC is falling now, it still refreshed the lowest inventory value in the past six years. A large number of investors are not panicking about the current price, and supporting investors show no signs of selling.

We can even clearly see that the amount of#BTCtransferred in and out of exchanges in recent working days is very low, which proves what was said before, that most investors are not interested in participating in the turnover.

In my opinion, as long as the support is not broken, even if it falls below $65,000, it will not take too long to rebound.