Bitcoin holds its support well at 17.6K not yet crossed, while the S&P 500 has already tested its last bottom of June, and several days the BTC performs the S&P 500.
The big whales are withdrawing their BTC from the exchanges, with a historic low for BTC on the exchanges.
We can have a strong movement upwards since we have less BTC in circulation to sell on the exchanges, and the same we can go even lower, since the market in the bear market and the hands of sellers.
Well if the whales buy the BTC on the exchanges and take them out afterwards to keep them warm, that only explains one thing that there will soon be a bullish movement, otherwise why keep a lot of BTC in the wallets if they know that will fall? it doesn't make sense only if they DCA in the long term.
I am aware that the price may continue to fall, but when everyone thinks that on the downside, the market sometimes does the opposite, we will soon be fixed!
Just before the opening of the S&P 500 Index today at 3:30 p.m. there was a long squeeze on the BTC at 2 p.m., and the same on the S&P 500 futures but not of the same size.
https://www.tradingview.com/x/4sY4gxjB/
The market is in accumulation with manipulations in the north and south, waiting for the exit of the range (between 18K and 20K) for a return to the trend, and I think we will have the answer soon and at the latest at the next meeting of the fed on Wednesday, November 02 at 8:00 p.m. UTC+2
https://tradingeconomics.com/united-states/interest-rate
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