What happened last time on the eve of important news? Namely, the release of data on US inflation?
- The collapse of FTX, the collapse of the cryptocurrency market.
What about now?
Binance was accused of money laundering yesterday and has restricted USD Coin (USDC) stablecoin withdrawals on Tron, BNB Chain, and Ethereum networks.
The former head of FTX was arrested today. The SEC will file public charges against Sam tomorrow, December 14th.
As we can see, the crypto is holding up quite cheerfully. Why does is there no drain now?
We see a clear absence of paper hands in the market, they are scared, they are in fear, and they are waiting for their 12k and below.
In a bear market - when the chart stops responding to various FUDs - it says that the bottom is near or has already passed.
According to weekly report from Glassnode, we can observe that whales continue to not only hold, but also actively accumulate.
This is my personal opinion, and it may not coincide with yours.
