Honestly, this weekend's market chart made me want to fall asleep.



BTC is just hovering around 77.9k, not breaking below 77.6k when it drops, and not bouncing above 79k when it rises. The order book has over 77.9k in buy orders, looking like someone is protecting it, but as soon as it moves up, no one follows.

I watched for two hours, and the biggest feeling is: liquidity has been drained.

Look at stablecoins, USDT + USDC are both at 320 billion, much more than last year, but the money is just sitting in exchanges, not moving. On-chain TVL remains the same, NFTs have long been forgotten. Money isn't flowing into the ecosystem; just moving around on CEXs, indicating big funds are in no rush.

The liquidation map is even more hilarious, with a bunch of longs below 78k, a bunch of shorts above 82k, and the price stuck in the middle like a sandwich. Weekend liquidity is poor, and a single big player dropping a few hundred BTC can stir up this pot.

Either a surprise move in an unpopular direction, or just sideways until Monday. $BTC
BTC-1.11%
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