Thread by @InspoCrypto

What is Inspos theory of what is happening with the market. Why did we pump #BTC July 21st?

Introduction: From May to June we had formed 3 different dead cat bounces with a LL support.

#BTC #ETH #XRP #Crypto #Analysis

Mid of June I have mentioned that I was expecting a shift to new lows as the market was reacting like in a re-distribution schematic, with poor quality rallies and only a rise in volatility in the beginning of the phase. But then June 26th something changed.

I have never understood what happend there. Now after months with more data and information in general, I think to know what let us flip from an uncoming dump to a new bottom to a quick accumulation from July 4th to July 20th. I have mentioned different times, that the pump

July 21st was driven by #FTX, the reason why its #BTC reserves rised up extremely. I have spent since yesterday to figure out if a tweet I have read has any correlation with what happend in the last months, because we had some really strange stuff that happenend in the

market since then. So, let us start with my analysis which I will finish with my personal conclusion of what happend the last months and what in my opinion are coming to us in the next weeks/months.

We pumped #BTC July 21st and #FTX rised its #BTC reserve by 55,000 #BTC within almost 4 weeks. Entities with >10k <100k #BTC dumped while entities with >1k <10k #BTC rised instead. Indicating a big sell op by big exchanges (#Coinbase, #Binance), absorbed mainly by #FTX.

Maybe it's also just a coincidence that #Coinbase CFO told to @fintechfrank that they are ready for the coming crypto winter, after we have detected a realized profit of $12.4 billion when they dumped 50,000 #BTC adding another 57,000 #BTC from #Binance. The difference between

Coinbase and Binance here? Coinbase bought it's 50,000 #BTC just few weeks before on a lower price level, the opposite of #Binance. This is how you can play off the competition. No doubts, maybe just coincidence. 😉 You remember all the #Binance ban chain triggered end of June?

Maybe also just a coincidence, but it looks like they forced Binance to sell part of their #BTC portfolio to get those in a lower price range. Even if I'm not a Binance fan, but that looks like. But why should #FTX absorbe all these #BTC?

Just to manipulate the market price letting #Tether mint more USDT and using IM bots, spoofing or was that much more and part of a plan?

If we check the charts below we notice here an interesting market behavior. You remember the 50,000 #BTC that "disappeared" related to #FTX?

I have tweeted about. Some thought #FTX got hacked and @SBF_FTX tweeted a statement about those huge transaction volume triggered by #FTX. Until today those 50,000 #BTC never haven being seen in the #FTX reserve anymore again. At least onchain data provider don't show them

anymore.

Also just coincidence? But what if all this is just part of his plan, to weak #FTX compititors, pump the market to try to attract retailers back, to bring liquidity to the market, to let dump big whales their coins on upper price levels and prepare the launch of...

LedgerX his new acquired company. This could be a
sign of a coming, like the Coinbase CFO said, crypto winter. Does that makes sense? Well, taking into account that the trading volume of the spot market just do 50% of the crypto derivate market, it does in my opinion.

If all what I'm explaining here was the plan, I have to admit, Sam is very good playing that game. The market activity, so the counts of transactions and addresses detected in exchanges keeps ultra low, even pumping #BTC $15,000 back above $50,000 within a week.

The market has a problem it seems, and cannot be fixed by pumping it like they did. GBTC (even with big discount) and MSTR still looking weak.

My conclusion here. It would match to why I hear from my clients.

They expect a sell-off in the stock market heading end of the year, because weak market data due Chinas coming crisis, inflation that will lift up, crypto bans or at least strong regulation because of their CBDC launches, an infrastructure bill that would let shift big players

from spot market to derivates and, maybe also ETFs, to count some of the events still on our list. As usual, trade the market but please, use SL. Do I know if the market will dump today? No! Can I expect a dump soon? Yes, I still do. I will continue to buy certain coins, because

I have a long-term strategy and I don't care about the current price ranges. But for short- and mid-term I'm out of the game.

Only option and future trading for me. Neither let you guide by fear nor by FOMO.

As mentioned already, it's my personal view and a possible explanation what happend in the last few months. 🤝

If I find more useful data, I will add here more.

Links:

https://twitter.com/SBF_FTX/status/1437460791188467712

contractmarketcap.com
theblockcrypto.com/linked/115025/…

https://twitter.com/SBF_FTX/status/1432682800784846850

https://twitter.com/SBF_FTX/status/1423529372493955072

https://twitter.com/Brett_FTXUS/status/1445852279110656002