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Wintermute is also putting pressure on the market

Over the past 24 hours, the largest market maker, Wintermute, transferred Bitcoin to Binance in the amount of about $190 million.

Such large transfers to an exchange are most often made before a sale.

Even if this time the volume isn’t realized, the fact alone already has a negative impact on the market: most participants interpret it as preparation for a dump and start selling themselves, increasing the pressure.

Another factor added to the pile that points to the imminent resumption of the correction.

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💬 OP | Analysis

Even after such a noticeable pullback, the buyback volumes haven’t increased to show even signs of a local reversal.

This indicates that for a confident reversal, the price still needs to reach a more significant support.

📉 Therefore, I expect the current correction to continue to the nearest support on the daily timeframe — in the $0.85 — $0.80 range.

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