Everyone’s yelling "#Bitcoin topped at $123K."
They’re dead wrong.
Here’s why this dump is just a healthy pullback.
And the real bull market has only just begun.
🧵👇
Recently, $BTC made a new ATH of $123K and then dumped to $118K.
Bears started saying that $123K was the top and BTC price will now go down.
But the BTC small correction happened mainly because of a few reasons 👇
Some people bought BTC when it was trading at ~$100K in Jan and waited for 5–6 months for some profits, and as BTC hit $123K they started to book some profits.
This is a good sign for altcoins as they will get more liquidity and start to pump.
Also, whenever $BTC hits a new ATH, people start to open overleveraged trades as they think BTC will never go down, so sometimes it’s necessary to flush those greedy longs.
Now let’s start with the reasons why this isn’t the market top.
Retail Presence
Every bull market top occurs when there is euphoria, which isn’t the case now.
Despite a new ATH, there is not much mainstream coverage of $BTC.
Upcoming Bullish Events
A market reversal usually happens when there is a FED tightening, similar to what happened in early 2022.
Right now, President Trump is continuously pressurizing Powell to do rate cuts.
There is also some news coming that FED Chair Powell can resign.
If this happens, then it will be bullish news for the market as the new FED Chair will start doing rate cuts.
Also, there is a 56% possibility that FED will do rate cuts in September, which is bullish for risk-on assets.
Along with that, global M2 supply is going up i.e., always a bullish sign for BTC and the crypto market.
Whales Accumulation
Every bull market ends when whales start distributing their coins to smaller holders.
Currently, whale accumulation is on the rise, which is a sign of an early bull market.
Scarcity
The bear market starts when supply >> demand.
Right now, the opposite is happening, as Spot ETF applicants are buying around 10-15x the total daily mined BTC.
Along with that, $BTC on exchanges is at a record low, which shows more demand.
Along with that, Saylor’s strategy, Metaplanet, and other top companies are buying BTC non-stop.
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