BTC Update: Starting to think this algo is probably from a notable desk or firm Part of yesterdays move higher into 108K + was driven by acquisition of BTC (companies acquiring BTC via desks) since these desks often know the incoming flow or it was leaked makes it quite easy to take advantage of consistently knowing the liquidity aka bid that is being demanded under price makes it efficient to offload BTC into Now this leads us into the current market state where the same algo / desk has edge over the market as seen below - Grids of supply quoting price lower - Spot taker selling (market selling) - bounces prior to spot selling flow is shorted My hunch from here is they're also likely going to be the larger passive buyer going forward