Second week is about to end on 27th, we are almost done with the weak hands. Now it's time to bounce back to above 50k. Obviously not in a day or two, it will take at least two weeks more. Cheers !!
The market didn't dump because of the weak hands, we also have to think the whales who are manipulating the market riding the negative news or even creating their own version of FUD. Anyway, whales is still playing in the market but hopefully to see some sign of life right before the end of the month, we are still not sure if the price of Bitcoin can go back to the price of $50k again, or we will continue this bear trend.
Asides the effect of Elon musk tweet and institutions taking profits, cryptocurrency had a lot of new investors that couldnt cope with the dump and capitulate after the china FUD. I think the retail investors we despise will now take it from here in the market into the parabolic and end of the year. There are signs of bitcoin and ethereum moving on exchanges, invariably selling.