As I have explained few days ago, you have zero idea about the BUSD. What you see is just surface. Okay just ignore conspiracy theory.... You know nothing about BUSD definitely.
Focus on the movement of Tether print & burn. It is the FED of Crypto.
there are 10 guys in a room holding full of cash.
2 guys going for short
the left 8 guys using a tiny cash to buy SPOT.
The output is Short-Squeeze.
Too much sideline money in market.
they can not stay too long in stable-coins form.
you must overcome that time to understand the context/timing/hype/market structure/ cycle/...
If you see it at the first time, you would be curious that wtf Rose are drawing..there is no corelation at all. I can understand your position.
I still remember RoseFamily overcame 3 big trades at first months of 2019
ADA LTC BNB
Here is the screenshot of Jan 2018/Dec 2017, which was the peak of Bull market 17/18.
Tether ranked 37th. Lol everyone is holding alts with great technology.
The rest is history.
Why I called It is too much sideline money in market.
When BTC at 16k, Tether ranked at 3rd.
When BTC 25k, Tether still ranked at 3rd.
The peak of FOMO is when Tether ranks above 10th.
Tether Marketcap is in the acceleration process
The logic is simple. Imagine you hold a lot of cash in your pocket. You must do something. You can not keep it silently too long.
I knew everyone are watching CME at 19k8.
From my point of view, that gap will be filled in the end. Maybe at 2024.
have a nice weekend.
The secret of crypto movement in 2023 is the resistance at level of May 2022.
Enjoy weekend and scan all pumpedcoins in past weeks. You can see they had a catalyst at fundamental and did a pump to the level of May 2022. Touched resistance and pulled back.
Now answer a question. What is the level of May 2022 of Bitcoin ?
BTC did a pullback 10% from local top. that's enough.
market need time for bullish consolidation before a next upward move.
You need patience.
Bears had mini good days
This is good time for bulls again.
You have few days to accumulate again.
#BTC dropped to fibo .618. I think It found a support at .618 and will consolidate at that level for few days.
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