Coin Bureau: BTC will fall

The window it was checked over

BTC closing prices, adjusted for splits. The shaded span is the one-year window: it starts at the first close after the video went public and ends at the last close on or before one year after the day the video was published.

What was said around it

Bitcoin whales withdrew the largest amount of BTC from exchanges in over nine years, suggesting that they are still accumulating. As a cherry on top, the supply of Circle's USDC and Tether's USDT increased by 1.5 billion and 1 billion respectively. This suggests that more money is flowing into the crypto market, particularly because USDC is being increasingly used for trading because of regulations in the EU and elsewhere that restrict USDT. Lo and behold, BTC rallied to almost 63K just 3 days after it fell below 50K. Now, from a technical perspective, BTC needs to stay steady around 60K to keep moving higher. At the time of shooting, it slipped to 58K and could go as low as 56K, which would suck. The best case scenario would be for BTC to stay put while altcoins rally, something we haven't seen in a long time. Interestingly, data from CryptoQuant suggests that BTC whales were preparing for an altcoin season late last month, which suggests that alt season could come sooner than we think. This makes sense when you realize that crypto is becoming politicized. And if you're subscribed to our weekly newsletter, you'll know there could be political announcements that pump the crypto market

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