For weeks there is a single entity that is continuously selling massive amounts of spot BTC on the market, in the same minute adding to a huge long position and buying back spot OTC at lower prices elsewhere. And repeating it over and over.
They ran the same playbook twice in the past 18 months and they're doing it again. It's very clear if you're watching the order books and paying attention. Each time BTC ran to new ATH within months afterwards.
That same entity's CEO was previously the "White House Digital Asset Policy Advisor" and "Digital Policy Czar." The entity is Bitfinex and the parent company is Tether.
Yes, the charts look horrible and we may be in a painful period, but I don't believe this run is over.
It's just blatantly obvious that someone wants the opportunity to accumulate lower before the next run higher.