Best projects will be the ones that do fair launches without VC’s
The community behind the projects that launched with no VC’s is so much stronger than with
People starting to realise they dont want to be exit liquidity at absurd valuations, lets hope founders do as well
In the end, VC’s wont make your product work. Satisfy users and fair investors.
I often miss the 2017 wild times
Rebranding. Token pumps instant x 5
Testnet min x 3 x 4
MAINET big thing bruv. Easy x 15 x 20
Supply Burn ??? Send it x 30
Best times of crypto
😄😁
#btc#eth
Aggregate OI, once again, marked our local top and hit the same level that has preceded every major liquidation flush every single time over the last 12+ months.
While I was initially extremely cautious when this 10B level was met (quoted tweet below) $BTC lingered at this level longer than we have any other time- making me believe that it was time to break this trend (because eventually, it will be broken). Unfortunately it looks like I was wrong about the trend being broken on this push and we once again got a major liquidation flush to the downside.
That being said, as previously mentioned, the amount of liquidations we saw in this last flush was 2x that of the FTX collapse in November and we are now almost back down at the absolute FLOOR of this range I've been tracking for some time now- a level which has, for the last 12+ months, marked the bottom of every drop the same way the 10B level has marked the top.
Note that we are still slightly above the absolute floor so its possible we haven't bottomed just yet, but it looks like we are very close.
As previously mentioned, the primary driver of downwards PA for over a year now has been liquidation flushes because spot holders are generally accumulating, not selling (long term holder supply is at record levels and keeps rising, now accounting for over 75% of circulating BTC).
Once all the leverage is flushed out, and with % of supply held by long term holders rising, the only place for price to go is up.
This analysis is just another confluent factor that supports my thesis of limited downside from current levels.
PS. I will continue to share my ideas and back them with plenty of data and logic, reply guys can continue to dismiss my ideas without offering a single shred of analysis/logic against them- I understand that actually refuting something you disagree with a clear and concise counter-argument is much more challenging to do than simple dismissal or name-calling and I don't want you guys to struggle with the challenge of coming up with coherent sentences 🫡