According to the previous public data, BlackRock's BTC holdings have reached 527,760 BTC, with a total value of about $51 billion. As shown in the following figure.
But today, through on-chain data, we can see that just a few hours ago (December 10), BlackRock has extracted more than 20,000 BTC to about 30 new unknown BTC addresses. As shown in the following figure.
And from the changes in BlackRock's BTC holdings, they indeed reduced more than 20,000 bitcoins yesterday. As shown in the following figure.
I don't know how much the recent market decline is related to this, but the changes in BlackRock's holdings will certainly have some impact on people's emotions. Of course, some analysts also attribute the decline in the past two days to the voting results of Microsoft (the main shareholders of Microsoft voted against including Bitcoin in the company's balance sheet).
As for how much this kind of influence can disrupt the market, this may be a matter of personal opinion. I believe that many people have also experienced the period when the German government sold BTC not long ago, and many people panicked during that period, but after the panic, we still welcomed the breakthrough of BTC above $100,000. Of course, this market trend also caused many people to miss the pump.
Now, it seems that the same script is again presented to people.
Reviewing the period of June and July this year, due to the news of the MtGox compensation plan and the sale of Bitcoins by the German government, the market was once again panicked, causing Bitcoin's price to fluctuate greatly, hovering around $50,000 to $60,000 for correction. I remember we also discussed this issue in the previous article. As shown in the following figure.
But after a period of cleaning up, BTC started to break through the ATH continuously after entering November, and successfully broke through the psychological barrier of $100,000 last week (December 5). As shown in the following figure.
After BTC successfully broke through the $100,000 mark, from the current overall liquidity situation, the market seems to have difficulty maintaining the continued rapid rise of BTC's price. And BTC's historic breakthrough is a new milestone event for the crypto market, so we have recently seen a lot of mainstream media reporting on this event, and many people have started to believe that the bull market will continue, and they have started to buy BTC at high prices, and after the rapid rise of Altcoins like XRP, they have also started to buy a large amount of Altcoins again, and many people have even started to use leverage in an attempt to beat the market.
Under such circumstances, BTC's sideways adjustment or short-term pullback may be the best choice, because the market needs to continue to shake off those speculative people, as for how long this process will last and how strong it will be, I can't say for sure, and no one can know.
In order to achieve the above purpose, according to past practices, it is necessary to create some news to influence people's decision-making (market manipulation), and the specific actions of large institutions like BlackRock are a good example of emotional factors.
BlackRock suddenly transferred more than 20,000 BTC, and some people may understand this as: BlackRock is going to start dumping?
Then, many speculators will be scared and will hand over their chips.
Perhaps, we will continue to see more "unfavorable" news actively displayed in front of you, as for whether you can continue to hold the chips in your hands, or whether you want to continue to increase your positions during the market pullback, these are decisions you need to make yourself, because the wallet is yours, we can't do anything for you.
Some people in this field just want to gamble, hoping to make a fortune overnight with a small amount.
Some people in this field just want to make money, they will turn their knowledge and skills into a means of making money, and can increase their wealth through some reasonable strategies to adapt to the market.
Some people in this field just hold, like our goal is to hold more and more BTC, and we won't care too much about the short-term price fluctuations of BTC.
In short, with different individual goals, the corresponding execution strategies may be different, and many people are trying to find a universal get-rich-quick strategy that can be applied to anyone, which is actually very unrealistic. Even the so-called hoarding, everyone can do it, but it may not be suitable for everyone, for example, if you only have a few hundred dollars of principal and hope to get rich overnight, then playing MemeCoin may be a better choice than hoarding.
Over a long period of time, I often encounter a situation where as long as the market goes down, there will be some people leaving messages to ask: Is the bull market still there?
For such a situation, if you have never read the previous articles of "Talk Li Talk Outside", and ask me such questions right away, then my answer to you is: If you believe it, it's there, if you don't believe it, it's not there.
From my personal experience, Bitcoin has risen about 5.6 times from the relative bottom area of around $15,000 in this cycle to the present, we have actually been in a bull market for a long time. I remember in the previous articles of "Talk Li Talk Outside", we also shared that our dollar cost averaging price in this cycle is $25,700, and we have already sold 10% of the bitcoins last week, if calculated from the perspective of returns, we have basically withdrawn the principal of dollar cost averaging, and the remaining 90% of the bitcoins are all profits. If it's a coin-based mindset, whether the bull market will continue, whether the price of BTC will rise or fall, we actually don't care too much, we just need to continue to strictly execute our trading discipline.
From the perspective of others, many people originally believed that BTC could reach $100,000, but from the feedback on social platforms and some groups, it seems that many people did not invest too much position in BTC before. And precisely because they missed it before, many people now believe that BTC can reach $150,000 next year. And with the media coverage, more retail investors seem to be starting to inquire or entering this market, for them, $100,000 is just the beginning, they are just beginning to experience this bull market.
Whether from the psychology of the people or the price performance, this seems to be a typical market cycle operation mode. And in this cycle, due to the existence of some new variables such as ETF, the price of BTC has broken through the ATH earlier than most people expected, and after experiencing more than half a year of correction, it has once again continuously broken through the ATH and created the milestone event of $100,000.
In this continuous process of change, capital flow often gradually flows from the impatient to the patient. And if after all this, you still haven't lost heart or disappointed in this market, then what you need to do now is to summarize yourself and improve your strategy, because there are still opportunities, just as we mentioned in a previous article: 2023 is full of opportunities, 2024 is full of opportunities, and 2025 is full of expectations.
The things that can be grasped or done in the near future include:
Properly assess your risk tolerance, optimize your investment portfolio, and don't just look at the price when buying and selling. For example, if you experienced ETH at 700, you may think 3700 ETH is expensive, and you could miss out on more opportunities.
If you are still not interested in BTC, as BTC breaks through and corrects, you can try to pay more attention to the changes in ETH and its ecosystem. If you don't have much time and energy to do research, the simplest approach is to gradually increase your position in ETH.
The Altcoin season has arrived, but as we mentioned before, this Altcoin season is unlikely to see the kind of across-the-board rally as in the previous bull market. If you are a newcomer, it's best not to just chase whatever is hot, try to avoid touching what you don't understand, don't chase the highs, don't use leverage, or simply stay away from Altcoins.
If you don't want to miss the Altcoin season opportunity, try to explore the narratives that can still tell more stories, such as AI, RWA, and GameFi that we've mentioned before. Of course, if your personal risk preference is relatively high, you can decide what to play and how to play it yourself. If you don't have your own views, it's also not recommended to leave a message asking me directly which coin can make you rich, I don't know, DYOR, and we also have no obligation to be responsible for others' dreams of getting rich.
All operations should be done in batches, such as buying in batches and selling in batches, don't just go All In. Although some people always say that All In and heavy positions can work miracles, such miracles won't happen to most people.
Professional traders can make money regardless of whether the market is bullish or bearish, but if you don't have the level of a professional trader yet, the safest way is to keep learning, stay focused, don't be greedy, and hold the few spots you are most optimistic about.
Just as the bear market has no bottom, the bull market also has no top. Don't always try to predict the top price, and don't try to ask others to find the top price. Opportunities and risks coexist, especially in a bull market, you need to pay attention to necessary (partial) profit-taking, it's better to make a little less than to be trapped at the top.
Persist, don't give up.
Source: https://mp.weixin.qq.com/s/TSjD4SvkcMAznUoU1-uK9A
