🪝 $BTC , $ETH and $SOL withdraw. But the red percentage doesn’t tell the whole story.
📊 A daily correction is better understood by looking at volume, volatility, and the macro context. A drop with low volume can have a very different interpretation than another one accompanied by strong activity and liquidations. Also, sudden moves can happen even when the close ends near the starting point.
It’s also worth looking at what happens with leverage, flows, and the macro environment before drawing conclusions. In recent sessions, for example, liquidations have had a significant impact on intraday moves.
🎯 Conclusion: a red candle shouldn’t be the only piece of data to interpret the market. Price + volume + volatility + context provide a much more complete picture.
When BTC starts falling, what do you look at first? 👀
📊 The known reserves of $BTC on OTC desks have fallen to around 123,000 BTC, compared to nearly 500,000 BTC in September 2021: a reduction of more than 75%.
This means there is less Bitcoin identified in these private trading channels. It may reflect greater long-term holding, a wider distribution of coins, or changes in how large participants execute their trades.
🎯 Conclusion: the data does not predict where the price will go. What it does show is a major shift in the liquidity structure and BTC supply.
The question now is: where did all that Bitcoin that left the OTC desks end up? 👀