BTC did a trade last night—went long, then the whale did something at midnight. They hit it down, there was a continuation long, but later it was pulled back up and ran away. Then I went to sleep. In the afternoon I woke up and saw that 651 hadn’t been broken, so it started doing wide-range consolidation. Basically it looks like it’s going to drop. I entered a short at 64851. Lao Wang said to go downstairs and eat fattied intestines, so I closed the short because I couldn’t keep staring at the chart. Even though I closed, BTC kept falling all the way.

Next, I’ll wait for BTC to bounce and then short it again. If it doesn’t break 655—if it keeps failing to get back up until Tuesday—then it’s basically confirmed it’s going to drop. If the momentum is very strong, then we might see it go into the 50s.

Recently the Bitcoin community had a big incident that may affect institutions, whales, and nodes regarding their belief and buying of BTC. Mainly it’s the BIP-110 protocol, and it could also be one of the reasons behind BTC’s drop. The detailed analysis: I’ll cover it in a live stream on Tuesday night at 9:00. Lately there have been students learning on-site the whole time. So the tasks of organizing, thinking, and writing code are much less than usual. Also, I still need to take time to do trading. Directly doing a live stream is more efficient.

Many people are questioning Circle’s CEO cashing out 30 million. I don’t think there’s anything worth questioning. Buying and selling is their freedom. There’s no need to do this kind of low-IQ moral blackmail. People also need to eat and live—they won’t starve just because they got money. And it’s still insisting on the moral high ground. Human nature can’t withstand the destruction caused by raw desires.

In 2022, when Coinbase went public, executives collectively cashed out, and the stock fell all the way. Just wait until after spcx’s original shares are released—then they’ll also go on a crazy sell-off.

It’s all the same. Just keep a normal mindset.

$BTC