Looking at the dynamics of the market in the last 2 months, it seems to me that the potential of the big sellers is starting to run out. Some pitiful attempts are being made with one-off sales at -3% to bring the price down regularly and keep it under 20K, but it is becoming increasingly clear that the market has long been in oversold territory and cannot sustain such a low price. For example, the leading volume exchange Binance during these months has 3 times the average volume compared to any month in the last 3 years.

It is also clear who is selling - tourists like Tesla and Musk, who understand Bitcoin as well as a calf railway, and also 10+ companies who are struggling not to go bankrupt and are transferring colateral bitcoins to each other like a hot potato. They thought that like with the stocks they would be able to drive down the price of Bitcoin forever, thus paying yield in Bitcoin to their customers. Until their entire house of cards collapsed.

The unfortunates who instead of buying bitcoins (because they are very smart and think they will get them cheaper with leverage) burned to the ground. The only ones who survived were those who bet all the time on short positions and now they think they are the smartest people in the world, but... They are complete wretches like mindrust, and they don't have the brains to realize that one day they will get screwed just like minddust. So, I expect the price to begin leveling off and gradually entering a semi-bull market like both 2015 and 2019. There will be some oscillations, but I expect a clear average price increase of 2-3 times before the next exponential bull market, hopefully in 2025. Yes, it may hit 20K or a little below 20K a few more times, but it is unlikely to break 17.5K anytime soon. It could happen in a few months, if Tesla and other tourists rush to sell again, or if some stable coin explodes. For now, however, the dynamics of the market do not show such signals.