There's a lot of talk about the price of Bitcoin, but the on-chain movements are quite interesting to observe right now: - We are witnessing a classic transfer from weak hands to strong hands. Retail investors are capitulating, and institutions are absorbing the supply, withdrawing 25,000 BTC from the markets over the past 2 weeks to store it elsewhere (probably in cold storage). - ETFs and corporate treasuries now hold more BTC than exchanges. The asset is moving out of pure speculation into the realm of wealth preservation. All of this contributes to drying up the available supply, which explains the significant volatility lately despite relatively modest volumes. The next move should be quite violent. You can find the complete market analysis on @TheBigWhale_ :