Who are these whales that have been buying up BTC since August? Take, for example, a group like Strive—we suspect very few people have even heard of them. Yet from August 24 to September 25, they bought $500 million worth of BTC—nearly as much as Strategy did during the same period. For those who didn’t know: Strive currently ranks 5th among public companies in terms of BTC holdings—behind Strategy, Twenty One, Metaplanet, and MARA. $BTC ‌

Broad Gains Across the Board, BTC Charges Back to $86k: The More “Certain” the Open Looks, the More Wary You Should Be of the $87k Hurdle After moving sideways all weekend with everyone guessing the direction, I warned last night that “leverage was piling up, so be careful of a reversal.” The direction came this morning—not downward, but broad gains across the board, with BTC shooting straight up to $86k. Shorts were the first to get liquidated. But counterintuitively, this kind of open, where “everything rises and shorts get liquidated,” looks the most exciting yet is precisely the one you should be least eager to chase. 3 points to explain it clearly: 1️⃣ Overnight review: After moving sideways over the weekend, the market chose to move higher this morning, with BTC reclaiming $86k (briefly reaching $86.5k, up around 2%) and ETH returning to $2,700. Gold, silver, U.S. stock index futures, oil prices, and BTC all rose broadly, with overall risk appetite returning. This surge liquidated approximately $35 million, with short positions making up the majority—a typical short squeeze. 2️⃣ The biggest focus today = the third test of $87k: The first two attempts at this level failed, with approximately $1 billion in profitable positions overhead. This morning, $86.5k was already approaching the key level. Whether it can establish a firm foothold on strong volume will determine whether this is a genuine breakout or another spike followed by a retreat—the traders who chased $87k the first two times all got trapped. 3️⃣ One divergence worth noting: Institutional funds are concentrating in BTC—BTC spot ETFs saw net inflows of $83 million yesterday, while ETH ETFs instead saw net outflows of $114 million. BTC is leading this rally while ETH is relatively weak, so be even more careful chasing altcoins. My approach: Don’t chase a broad-based, short-squeeze-driven open, especially not below the $87k level. Wait for confirmation—either follow after a high-volume hold above $87k and a retest that holds, or look for support if the attempt fails and price retreats. Keep leverage low and respect stop-losses rather than holding losing positions. It’s good that the direction has emerged, but an open that “looks the most certain” is often when sentiment is most crowded and the risk-reward is the worst. The market has just liquidated the shorts; don’t rush to turn yourself into fuel for the next candlestick. Personal record, not investment advice. Futures trading carries extremely high risk. $SPCX $BTC ‌ $ETH ‌

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