somebody pulled the flush yesterday

[Red-Apple]

i find it interesting when certain market behaviors keep being repeated. specially the obvious ones. for example in the past 48 hours we had a market flush that cleaned the market from weak hands and whales got bigger thanks to their panic sells. the interesting part is that such trends keep repeating every now and then counting on the weak hand panics to fill the gullet of the whales...

now that we are rid of them, price is back to normal again.

[1715684339]

1715684339

[1715684339]

1715684339

[YuginKadoya]

Are you part of the whales now? Because of this panic sell that happened, I guess there are many conclusions why the market drop its price so sudden, And this is due to the panic sellers that always keeps the word of certain people in the market that just always saying FUD and doesn't have any faith with the platform, But there are some that is pertaining that this is a correction, Well this is just what I read in some article of a sudden drop but I guess this is a good drop to certainly make a turning point for the price to sprung back up.

[Naida_BR]

It sounds like you are complaining that whales got bigger now.
Actually, I am fed up with all the people who blame about panic selling and saying that whales are made bigger. You cannot define that people who sold at that level didn't make any profit.

[exstasie]

i find it interesting when certain market behaviors keep being repeated. specially the obvious ones. for example in the past 48 hours we had a market flush that cleaned the market from weak hands and whales got bigger thanks to their panic sells. the interesting part is that such trends keep repeating every now and then counting on the weak hand panics to fill the gullet of the whales...

now that we are rid of them, price is back to normal again.

Remember though, we saw a very similar bounce off $10,300 last week. It ended up topping at $12,500 and then we dipped below $10K. In other words, we're only seeing lower highs and lower lows so far. This could be another dead cat bounce.

We need to break above $12,500 to say we're "back to normal" (trending up) again.

[Reid]

It sounds like you are complaining that whales got bigger now.
Actually, I am fed up with all the people who blame about panic selling and saying that whales are made bigger. You cannot define that people who sold at that level didn't make any profit.

I dont really think that is just what happened.
We dont have proof that the whales took that sold bitcoin. Yes I can say though that there are panic sellers. There will always be.
But whales getting bigger? We dont have enough accurate proof to see that.

Now, it could be a new buyer which could also panic sell again after a little pump or it could be an addition to those average amount holder of bitcoin which are also trading.

[Oilacris]

A typical or just an ordinary day here on crypto yet the said flush isn't really that causes panic selling but somehow

I do agree that this is to shake off weak hands and accumulate much more cheaper coins and repeat the process.
We cant see for prices to shoot up forever.

[STT]

Any variation in pricing like this helps solidify pricing at a certain level between buyers and sellers so the market is more balanced then just a pure rise by itself.     I drew very roughly how I view this recent pricing, its pulling back in a regular way and will move to a great extent when leaving this channel I think

[leowonderful]

Looks even more dramatic on a higher timeframe like the 4H or 1D. I think we're currently in an area of consolidation and we'll start to see a decisive move in either direction in the next few days; personally think that this is going to turn bullish but also prepared with stops in case this slips the wrong way. Whatever happens, though, overleveraged traders will continue to be shaken out as they have been for the past few months.

[buwaytress]

Are you part of the whales now? Because of this panic sell that happened, I guess there are many conclusions why the market drop its price so sudden,

Well, if being happy for dips makes one a whale, then I most certainly am the Moby Dick of small-time Bitcoiners. I actually don't buy, I just get paid in BTC so I basically just cost average since I have to get paid and pay bills pretty regularly... but I have some leeway in how I time the invoices, so when a dip happens like that, you can be sure I'm asking to get paid asap;)

I don't think this was any panic selling either. We'd be seeing far deeper, far longer, crashes, if panic had set in.

[crairezx20]

I thought the price will continue to drop that is why I sold my altcoin and bitcoin yesterday. It seems that the market is getting back to normal again I'm sure it is because of whales who hold a large amount of bitcoin and sell to make profit and then start FUD to keep the price down so that they can buy more bitcoins at a lower price. This is an old strategy of whales and until now they are still doing this so I regret selling coins yesterday even though I'm still made a profit from holding them for a long time.

[UnDerDoG81]

I think without whales we would still swim around 3k ish levels. God bless them (when) they help moving the market up.

[Red-Apple]

Any variation in pricing like this helps solidify pricing at a certain level between buyers and sellers so the market is more balanced then just a pure rise by itself.     I drew very roughly how I view this recent pricing, its pulling back in a regular way and will move to a great extent when leaving this channel I think

an excellent point and i fully agree with it.
but what baffles me every time we have a price solidification like this, it is followed by some level of panic sell that most of the times doesn't make any sense.

[1Referee]

I do agree that this is to shake off weak hands and accumulate much more cheaper coins and repeat the process.

The shake-off was from close to $14,000 to just under $10,000. Right now we're just seeing some genuine market activity. There is some resistance around the $12,000 level as we speak and there is more above it. The most important level in my opinion is the ~$14,000 to break through. It's something I would confidently long on Bitmex.

I really like the volumes that we are seeing. What a difference from say a month or two ago. I expect the volumes to increase even further the closer we are to the block halving.

I think without whales we would still swim around 3k ish levels. God bless them (when) they help moving the market up.

That applies to all markets. Without whales and market makers there is no market.

[davis196]

the interesting part is that such trends keep repeating every now and then counting on the weak hand panics to fill the gullet of the whales...

now that we are rid of them, price is back to normal again.

We will never get rid of the whales.The fact that the btc price is kinda stable now (around 11K USD) doesn't mean that whales are gone.The short term price correction was due to the rapid price growth,which happend previous weeks.It was a short term panic selling,but we can't be 100% sure that it was caused by the crypto whales.

[YuginKadoya]

Are you part of the whales now? Because of this panic sell that happened, I guess there are many conclusions why the market drop its price so sudden,

Well, if being happy for dips makes one a whale, then I most certainly am the Moby Dick of small-time Bitcoiners. I actually don't buy, I just get paid in BTC so I basically just cost average since I have to get paid and pay bills pretty regularly... but I have some leeway in how I time the invoices, so when a dip happens like that, you can be sure I'm asking to get paid asap;)

I don't think this was any panic selling either. We'd be seeing far deeper, far longer, crashes, if panic had set in.

We can never know if he is a part of the whale family now or not, And I just ask him if he is one pertaining to the dip and getting excited with it, We can never know who is a whale or not in the forum Until someone had said so, I am one of the averages that are just getting paid, Waiting for a sudden trade, And hoping in winning it big in gambles  for a couple of Bitcoin or other cryptocurrencies,

And you are right and I do not really think that this is really a panic selling but I guess this can be a correction, But as I said there are many that are saying that this is because of the market panic.

[Red-Apple]

Are you part of the whales now? Because of this panic sell that happened, I guess there are many conclusions why the market drop its price so sudden,

Well, if being happy for dips makes one a whale, then I most certainly am the Moby Dick of small-time Bitcoiners. I actually don't buy, I just get paid in BTC so I basically just cost average since I have to get paid and pay bills pretty regularly... but I have some leeway in how I time the invoices, so when a dip happens like that, you can be sure I'm asking to get paid asap;)

I don't think this was any panic selling either. We'd be seeing far deeper, far longer, crashes, if panic had set in.

We can never know if he is a part of the whale family now or not, And I just ask him if he is one pertaining to the dip and getting excited with it, We can never know who is a whale or not in the forum Until someone had said so, I am one of the averages that are just getting paid, Waiting for a sudden trade, And hoping in winning it big in gambles  for a couple of Bitcoin or other cryptocurrencies,

And you are right and I do not really think that this is really a panic selling but I guess this can be a correction, But as I said there are many that are saying that this is because of the market panic.

i don't know what difference it would make but no i am far from being a whale. i am teeny tiny fish in the sea and i am never happy about dips because i rarely trade bitcoin with fiat.
my main trades have mostly bee bitcoin with altcoins where i go in altcoins temporarily while they get pumped and pull out as soon as i reach my profit goal.
my fascination is with the way panic spreads sometimes in bitcoin market and the result is missing out for those who made the irrational decisions.

[justdimin]

I think the difference between panic sellers and whales is that whales can afford to lose and they are eating up that risk to make more money while panic sellers are usually people who are getting into bitcoin with money they actually shouldn't and whenever it gets low they are definitely risking all of their livelihood so they get out as quickly as possible to keep themselves from going broke.

Not because whales are smart and panic sellers are idiots, if you give one of those panic sellers thousands of bitcoin and say trade this then they will do the same thing a whale will do, so its not the fact that whales are smart but your trading habits change in a second when you happen to find a lot of money to trade. I have met with whales and panic sellers and the case was always like that.

[stadus]

now that we are rid of them, price is back to normal again.

Can't really tell but I hope weak hands are gone already so the price will start rising again.
By looking at the graph based on short term trade, it's hard to determine what would happen in the future as even it's due for a rise, but along the way there are some panic that might happen again due to correction.

[Dreamchaser21]

I think without whales we would still swim around 3k ish levels. God bless them (when) they help moving the market up.

Indeed, a blessing in disguise and they are working hard to get more profit and the benefit of that in the whole market, the price becomes more expensive. Some are thankful but some are trap on the top, maybe they don’t know how to ride with the whales.

[Red-Apple]

now that we are rid of them, price is back to normal again.

Can't really tell but I hope weak hands are gone already so the price will start rising again.
By looking at the graph based on short term trade, it's hard to determine what would happen in the future as even it's due for a rise, but along the way there are some panic that might happen again due to correction.

weak hands are never going to go out of the market completely. their numbers shrink at times like the one i posted here because they panic but after a while all these panic sellers choose one of the following:
- either they finally learn about the mistakes they have been making and stop being such a panic head
- or they lose enough money to discourage them from coming back but until then they will FOMO buy after price went back up.