This shakeout is happening right before Christmas to shake the bitcoin out of weak hands because the big bois aren’t selling.

As the title suggests, i really believe it’s no coincidence that this shakeout is happening just before Christmas. Everyone was expecting a pump, instead the market was dumped with only 8000 btc moving onto exchanges.

The on exchange reserves of btc (and eth) keep dropping. Big wallets are buyng the dip. This to me says that this isn’t a true selloff, I think it’s the dump before the pump.

If the big players aren’t selling , who’s left? The little guy. Retail investors like us. Psychologically it makes sense. People are more desperate at Christmas than most other times. Many newer investors overdid it and were depending on the pump to have extra money for Christmas. They are more likely to panic sell.

People thought: Why not fatten the Christmas budget by riding the December pump? Everyone thought the pump was coming, it’s q4 the year after a halving!

Tldr: since big money aren’t selling, i’m convinced they’re soaking up what they can of the remaining available liquid btc by scaring more easily frightened noobs and exploiting xmas desperation.

Edit: metrics im refering to for those interested are illiquid vs liquid supply, balance held on exchanges, time spent holding, and activity seen in major wallets https://btc.com/stats/rich-list