The more data I look at, the harder it becomes to make a bullish case here. Bitcoin volatility is setting up almost exactly like previous periods that led to major moves. At the same time: • Exchange balances just increased by 5,000 BTC • USDT balances are rising too • Price is still struggling to attract meaningful spot demand To me, that doesn't look like investors preparing to buy. It looks like traders moving capital onto exchanges while more Bitcoin is being positioned for sale. The part that stands out most? The amount of USDT coming in isn't even close to enough to absorb the Bitcoin being deposited. That's why I still think this move isn't finished. Everyone keeps asking when the bou

The more data I look at, the harder it becomes to make a bullish case here.

Bitcoin volatility is setting up almost exactly like previous periods that led to major moves.

At the same time:

• Exchange balances just increased by 5,000 BTC
• USDT balances are rising too
• Price is still struggling to attract meaningful spot demand

To me, that doesn't look like investors preparing to buy.

It looks like traders moving capital onto exchanges while more Bitcoin is being positioned for sale.

The part that stands out most?

The amount of USDT coming in isn't even close to enough to absorb the Bitcoin being deposited.

That's why I still think this move isn't finished.

Everyone keeps asking when the bounce is coming.

I'm still asking where the buyers are.

— That Martini Guy ₿ (@MartiniGuyYT) Jun 19, 2026