Is this dump a huge bear trap?

The price of Bitcoin dropped from $100,000 to $94,000 this week, and everyone is losing their minds.

Well, almost everyone.

While retailers rush to sell, on-chain data shows something very different is happening in the shadows.

Those wallet addresses with comma-heavy balances? They don’t sell. They are buying. a lot.

It’s really cool. The same price that made us celebrate a few months ago has people feeling nervous this week. But these whales took advantage of this situation.

So what exactly is happening? Let’s understand everything! Here is a quick summary of the most important headlines over the past 24 hours:

• Bitcoin just bounced between $100k and $92.5k as the Fed hints at higher interest rates. but how We know that this patch is really different from previous patches? 🎢

• Recent interview by Gary Gensler divides cryptocurrencies into ‘Bitcoin and everything else’ – but What exactly Does this mean the outgoing SEC Chairman? 🤔

• Do Kwon’s digital life is being investigated, from direct messages on Twitter to mysterious recordings. What secrets Could it be hiding in those terabytes of data? 🕵️

• Whales just bought 34,000 Bitcoin after the big sell-off in December. What do these people do? Big players know? 🐋

• The outgoing head of the Commodity Futures Trading Commission (CFTC) warns that it could take two years to establish rules for cryptocurrencies. but Why Behnam? Very concerned about your current regulatory setup? ⚖️

Let’s dive in!

After finally crossing the $100,000 mark, it took an unexpected turn and dropped to $92,500.

This happened when the Fed started hinting at keeping interest rates higher for longer. These hints have a big impact, especially when combined with some surprisingly strong US economic data.

The drop wasn’t nice either. Over $631 million of leveraged positions were wiped out in just 24 hours. That’s a lot of traders betting on Bitcoin continuing to rise.

Want to know what makes this price action different from previous corrections? Read The whole story!

Gary Gensler’s farewell tour just revealed some juicy details about his time leading the Securities and Exchange Commission. After launching more than 100 enforcement actions against cryptocurrency companies, he’s not leaving exactly quietly.

In his final interview with Bloomberg TV before stepping down on January 20, Gensler dropped an interesting perspective: He sees the cryptocurrency world as divided between Bitcoin and “everything else.”

What does it mean exactly? Read The whole story!

The Do Kwon saga just got more interesting.

The story continues