Today’s Nuggets
Hunting for Liquidity
Discovering who Mr. 100 Might Be
Mr. 100 Buying More Than Daily Issuance?
Hong Kong ETFs Ready for Trade?
Indian Rupee Plummeting
Grayscale Saga Coming to an End?
Simple Rule of When to Buy
The Perfect RSI
Miners Stopped Selling?
There are less than 48 hours to go before Bitcoin makes history as it becomes the hardest asset in the world!
In addition, we will uncover the mystery of who is Mr. 100:
Is it an exchange?
Is it Hong Kong ceding their funds?
Is it a sovereign wealth fund out of the Middle East?
We will break it all down using data. We will find out one day, but we will just have to speculate until then.
We will also look at leverage hunting. After Bitcoin went down to hunt the floor, it shot up $2,200 in an hour.
As a reminder for those interested in Bitcoin-only content then, the playlist can be found here:
https://www.youtube.com/playlist?list=PLWTRLGkkf1kTTbIDdv-P6ykul7a8iUXYf
We have less than two days to go, as the clock indicates the Halving will occur on the 19th. It could roll over into the 20th, which has a special meaning.
The yellow line on this map was at the $59,000 level, which is exactly where the price action went.
It is so predictable!
When everyone believes that the same thing is going to happen in the markets, the market makers go hunting for liquidity.
The good news is that only $85.83M of BTC - mostly Longs - was liquidated in the last 24 hours.
In addition, $44.33M of Ethereum positions were liquidated.
When you approach markets, leave your emotions at the door!
The way Bitcoin is bouncing, it is wrecking people's heads!
Historically, the short-term cost basis has served as the floor for Bitcoin in a bull market, currently at $58,500.
Coincidentally, this is exactly where the leverage hunting went today, hitting $59,600. It is good to know that the floor is still intact. If history repeats, that floor will remain the floor for this bull run.
The big news…
People are very interested and some are sick of this story.
Mr. 100 just bought another 500 BTC today.
If this account continues to buy 500 BTC per day in 48 hours, it will be buying more than the Bitcoin issuance.
Looking at their stacking:
Since the ETFs began, this wallet has stacked, on average, 347 Bitcoins per trading day.
This is quite incredible!
Here is a list of reasons why I believe Mr. 100 is not an exchange.
I preface that I could be wrong, but this is Dollar Cost Average on Steroids (DCAS) stacking behavior.
Imagine if this is a nation-state like Qatar or a Japanese pension fund. If the news broke that they were staking this hard, it would cause a "nuclear arms race."
Game theory will be triggered at some stage… the question is
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