Bitcoin just broke through the 70,000 level in this wave, and panic sentiment is rising again.

I mentioned this afternoon that I'd dig deep into where the 18th ETF's outflowing funds actually went. Now, combining with the 4-hour chart, let's completely expose the mainline players' cards!

I've tracked on-chain anomalies and exchange wallet balances over these two days, and the conclusion is very clear: the capital that Wall Street dumped to cash out never truly left the market!

The vast majority of this money has been converted into USDT and USDC, quietly sitting in off-market accounts. This is an extremely typical "high-level distribution, off-market idle" strategy.

What are the mainline players waiting for? Waiting for retail traders to despair, waiting for high-leverage longs to liquidate, waiting for cheaper blood-stained chips!

Look at the chart! Currently at the 4-hour level, we've just retraced near the core uptrend line (blue line in the chart) from this round starting at 62,000.

If this holds, it's the starting gun for off-market capital to re-enter—wash the car and continue the push. Otherwise, once volume breaks below, this batch of off-market capital will patiently wait for the market to go to 66,000 or even 63,000 nearby to hunt for liquidity before acting.

Remember, the monthly line already has 5 consecutive red candles—we've dropped enough. The 60,000 support is also very strong. We need a rebound here. When it drops and the indicators stabilize, that's a good opportunity to buy the dip!