It appears that the whales might be preparing for another dump. We cannot be certain what will be the most lowest bottom for this bear market, however, I predict this will be caused by Michael Sellor's next dump which might be billions of dollars worth of bitcoin!
Bitcoin traders are scrambling to position for a deeper selloff, snapping up put options that would deliver big payouts if prices slide all the way down to $52,000 in the coming weeks.
Well, I believe that we may or might not yet have seen the bottom of bitcoin just yet, but I doubt if Michael saylor is going to be the reason why we will experience a new bitcoin price bottom for this cycle.
Saying this because few days ago, like I think a day before yesterday or so, I was on x and came across a post from Michael saylor whom I am actively following, he posted a chart with several dots on it which I believe is indicating the stages at which he bought bitcoin, and the caption he added to the post was "the chart is better with more dots" (this might not be exactly how he said it but I believe this is what he meant).
And his followers tried to interpret what that meant and some were saying that he is likely going to be buying more bitcoins pretty soon.
But coming across this thread now, I can't help but wonder if Michael is going to be buying more bitcoins soon, what is or will be his reason for selling? This is absolutely no sense in this except he's going to sell a small amount to cause panic, people dump the price down further and he buys back and more cheaper.