Papi
BTC - Recap of 2021 Bitcoin Supply Patterns
(1.) Recap of the Q2/3 2021 Bitcoin bear cycle. This is a straightforward supply pattern moving through a distribution>capitulation>reaccumulation cycle. Many will draw parallels to Wyckoff here, and they aren't wrong- his focus on whale and market maker "composite man" accumulation and distribution patterns are useful for describing supply cycles. (2.) Entering Q4 2021 pattern is less clear, but macro bullish- reflecting net accumulation. You also observe regional patterns with coins moving from Asia to West (and DEX); I think this reflects new restrictions/regulations in China and not a complex scheme by whales. Despite fear of macroeconomic issues, I think the crypto market won't truly feel the weight of things like US fed tapering until Q2 2022, giving us room for one more strong move to the upside to give the whales time to to take profit. Also based on where smart money began reaccumulating in Q2/3, my confidence is rising that our floor is between $30k and $40k.