BlackRock transfers over 20,000 bitcoins to multiple unknown addresses

Source: Talking about Li and Talking about the Outside

According to previous public data, BlackRock's BTC holdings have reached 527,760 BTC, with a total value of approximately $51 billion. As shown in the figure below.

However, today through on-chain data, we see that just a few hours ago (on December 10), BlackRock withdrew over 20,000 BTC to nearly 30 new unknown BTC addresses. As shown in the figure below.

From the changes in BlackRock's BTC holdings, it is evident that they indeed reduced their Bitcoin holdings by over 20,000 BTC yesterday. As shown in the figure below.

I don't know how much the market's decline in the past two days is related to this event, but the changes in BlackRock's holdings will certainly have some impact on people's emotions. Of course, some analysts attribute the decline in the past two days to Microsoft's voting results (where major shareholders voted against including Bitcoin on the company's balance sheet).

As for how much disruption such impacts can have on the market, that may vary from person to person. Many people have experienced the panic during the time when the German government sold BTC not long ago, but after the panic, we still welcomed BTC breaking through the $100,000 mark, although this wave of market movement left many people missing out.

Now, it seems that a similar script is laid out before us.

Looking back at the period of June and July this year, due to the MtGox compensation plan and the German government's sale of Bitcoin, the market experienced a new wave of panic, causing Bitcoin's price to fluctuate significantly, hovering around $50,000 to $60,000. I remember we discussed this in previous articles. As shown in the figure below.

However, after a period of cleansing, BTC began to continuously break through ATH as it entered November, successfully surpassing the psychological barrier of $100,000 last week (on December 5). As shown in the figure below.

After BTC successfully broke through the $100,000 mark, from the current overall liquidity situation, it seems difficult for the market to continue to maintain a rapid rise in BTC's price. The historic breakthrough of BTC is a new milestone event for the crypto market, and we have recently seen many mainstream media reports on this event. Consequently, many people began to believe that the bull market would continue, and they started buying BTC at high prices, and after the rapid rise of altcoins like XRP, many began to repurchase large amounts of altcoins, with many even using leverage in an attempt to beat the market.

In such a situation, a sideways adjustment or a short-term pullback for BTC might be the best choice, as the market needs to continue shaking off those speculative individuals. As for how long this process will last and how intense it will be, I can't say, and no one can know.

To achieve the above goal, according to past practices, it is certainly necessary to create some news to influence people's decisions (manipulate the market), and the specific movements of large institutions like BlackRock serve as a good example of market sentiment.

BlackRock suddenly transferred over 20,000 BTC, and some may interpret this as: Is BlackRock about to dump?

Then, many speculators would be scared and hurriedly give up their holdings.

Perhaps, we will continue to see more "unfavorable" news for the market presented to you, and whether you can continue to hold your assets or decide to increase your positions during the market's pullback is something you need to decide for yourself, as the wallet is yours, and we cannot do anything for you.

Some people in this field just want to gamble, hoping to make a fortune overnight with a small investment.

Some people in this field only want to make money; they will turn their knowledge and skills into means of earning, able to adapt to the market through reasonable strategies and increase their wealth.

Some people in this field simply hold; for example, our goal is to hold more and more BTC without worrying too much about BTC's short-term price fluctuations.

In short, different individuals with different objectives may have different execution strategies. Many people are trying to find a universal strategy for wealth accumulation that applies to everyone, which is actually very unrealistic. Even the so-called holding coins can be done by anyone, but it may not suit everyone. For example, if you only have a few hundred dollars and hope to get rich overnight, then compared to holding coins, perhaps playing with MemeCoins might be a better choice.

For a long time, I often encountered a situation where whenever the market drops, some people would leave messages asking: Is the bull market still on?

In response to such situations, if you have never read past articles from Talking about Li and Talking about the Outside and immediately like to ask me such questions, then my answer to you is: If you believe, then it is; if you don't believe, then it isn't.

From my personal perspective, Bitcoin has risen nearly 5.6 times from the relative bottom of around $15,000 in this cycle. We have actually been in a bull market for quite some time. I remember sharing in previous articles that our average dollar-cost investment in this cycle is $25,700. Last week, we sold 10% of our Bitcoin. From the perspective of returns, we have basically recouped our dollar-cost investment, and the remaining 90% of Bitcoin is profit. If we think in terms of coin-based thinking, then whether the bull market in this cycle will continue, whether BTC's price will rise or fall, we actually don't care too much. We just need to continue to strictly follow our trading discipline.

From others' perspectives, many initially believed BTC could reach $100,000, but feedback from social platforms and some groups indicates that many did not seem to invest too much in BTC previously. It is precisely because they missed out before that many now firmly believe BTC can reach $150,000 next year. Moreover, with media coverage, more retail investors seem to be inquiring or entering this market. For them, $100,000 is just the beginning; they are just beginning to be part of this bull market.

Whether from people's psychology or price performance, this seems to be a typical market cycle operation model. Moreover, in this cycle, due to the existence of new variables like ETFs, BTC's price broke through ATH earlier than most people expected, and after experiencing more than half a year of correction, it once again continuously broke through ATH and created the milestone event of $100,000.

In this ongoing process of change, the flow of funds often gradually shifts from the impatient to the patient. If after experiencing all this, you are still not disheartened or disappointed with this market, then what you need to do now is to summarize and improve your strategies, because there are still opportunities, just as we mentioned in a previous article: 2023 is full of opportunities, 2024 is full of possibilities, and 2025 is full of expectations.

The major things you can grasp or do next include:

Reasonably assess your risk tolerance, optimize your investment portfolio, and don't just look at prices when buying and selling. For example, if you think ETH is expensive at $3,700 because you experienced it at $700, you might miss out on more.

If you are still not interested in BTC, then with BTC's breakthroughs and corrections, you can try to pay more attention to ETH and its ecosystem changes. If you don't have much time and energy to conduct research, the simplest approach is to directly increase your ETH holdings in batches.

The altcoin season has arrived, but as we mentioned in previous articles, this round of altcoin season is unlikely to see the kind of comprehensive rise seen in previous bull markets. If you are a newcomer, it is best not to chase after whatever is hot just because you see or hear about it. Try to avoid touching what you don't understand, avoid chasing highs, avoid using leverage, or simply avoid altcoins altogether.

If you don't want to miss the opportunities of the altcoin season, then try to explore those narratives that can tell more stories, such as AI, RWA, GameFi, etc., which we have mentioned multiple times in previous articles. Of course, if you have a higher risk tolerance, you can decide what to play and how to play it yourself. If you don't have personal opinions, I suggest you don't directly leave messages asking me which coin can make you rich. I don't know, DYOR, and we are not obligated to be responsible for others' dreams of wealth.

All operations should be done in batches; for example, buy in batches and sell in batches. Don't go all in recklessly. Although some always say that going all in and heavy positions can create miracles, such miracles will not happen to most people.

Professional traders can make money regardless of market rises or falls, and if you do not currently possess the level of a professional trader, then the safest way is to keep learning, stay focused, and don't be greedy. Just hold onto the few assets you believe in the most.

Just as a bear market doesn't signal a bottom, a bull market doesn't signal a top. Don't always try to predict the top price, and don't seek others to find out the top price. Opportunities and risks coexist, especially in a bull market, where you should pay attention to making necessary (partial) profits. Earning a little is always better than being stuck at the top for years.

Persevere and don't give up.