I think $BTC breaks out here or next week at the latest, fueled by two main drivers: 1) Sell pressure from the OG Bitcoin whale has most likely been fully absorbed. 2) Huge inflows into Bitcoin start next week; Saylor alone has over $1 billion in firepower. More information below.
Crypto Stream
Crypto Stream24.7. klo 16.10
There is a potential $2b+ inflow into Bitcoin next week: - Saylor's average ATM has been ~$600m per week - Additionally, raising $500m via STRC (likely topped up) - Mara does an $850m raise, upsized to $950m. So we potentially have ~$2b+ from TCOs' alone, with the possibility of second-order effects that materialize via renewed ETF interest. The best reference for this is July 10 - 11. ETFs bought ~$2b and Bitcoin rallied ~10% over the next days. The rally came to a halt when an ancient bitcoin whale started transferring ~$9b Bitcoin to the Galaxy OTC desk on Monday. The price action was muted ever since as the coins exchanged hands. There is a decent chance that most, if not all, of the coins are now absorbed by the market. I give it a high likelihood that this sell-pressure is fully absorbed and that Bitcoin is able to breakout with next week's inflows.
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