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The mainstream investors have plenty of cash to splash still especially in the context of the amount if money required to influence BTC or ETH. A sell off is a transfer of wealth. Every sell requires a buy.
Stonehedge-
Yep, think this is the largest known non-exchange wallet, still buying, apparently 129k BTC is not enough:
https://www.blockchain.com/btc/address/1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQ
greentricky
Consumer buyers / mainstream investors had loads of spare cash to splash - and now they don’t.