In this episode, I talk to on-chain analyst and the co-founder of Hypersheet; Willy Woo. We discuss the drop from $62k, Cryptoquant’s analysis, the “Rick Astleys” buying the dip and how to catch the top of the market.

SHOW NOTES:
https://www.whatbitcoindid.com/podcast/how-to-trade-the-end-of-a-bull-market

THIS EPISODE’S SPONSORS:
Kraken - https://kraken.com/
BlockFi - https://blockfi.com/?ref=f0fdce00
Sportsbet.io - https://sportsbet.io/?ref=wbd
Casa - https://keys.casa/?pk_campaign=wbd-yearly-sponsor&pk_medium=sponsorship&pk_source=what-bitcoin-did
Exodus - https://www.exodus.io/
Ledger - https://www.ledger.com/

TIMESTAMPS:
0:00 Introduction
0:28 Bad reporting by CryptoQuant
6:50 Bitcoin futures contracts
12:05 Calling the bottom
18:13 "Crazy to sell now"
20:41 Institutions strategies
25:19 "Crazy Bullishness"
26:10 Price calls
36:06 Futures trading explained
42:44 Peter world's best trader?
50:00 Defi yield & risks
54:45 Bull market strategy
59:14 Tesla market hype

WHERE TO FIND THE SHOW:
→ My website: https://www.whatbitcoindid.com/podcast/
→ iTunes: https://apple.co/2OOlzVV
→ Spotify: https://spoti.fi/2ygc4W1
→ Stitcher: https://bit.ly/2IQO8fX
→ SoundCloud: https://bit.ly/2CGSVQR
→ YouTube: https://bit.ly/3nyi9Ez
→ TuneIn: https://bit.ly/2ywystr

LISTEN TO OLD EPISODES:
→ By guest: https://www.whatbitcoindid.com/guests/
→ By topic: https://www.whatbitcoindid.com/topics/
→ Transcriptions: https://www.whatbitcoindid.com/transcriptions/

SUPPORT THE SHOW:
→ https://www.whatbitcoindid.com/sponsorship/
→ Become a Patron: https://www.patreon.com/whatbitcoindid/
→ Subscribe on iTunes
→ Leave a review on iTunes
→ Share the show out with your friends and family on social media
→ Drop me a line on hello@whatbitcoindid.com

WHERE TO FOLLOW ME:
→ Twitter: https://twitter.com/whatbitcoindid/
→ Medium: https://medium.com/@whatbitcoindid/
→ Instagram: http://instagram.com/whatbitcoindid/
→ Facebook: https://www.facebook.com/whatbitcoindid/
→ YouTube: https://www.youtube.com/whatbitcoindidpodcast
→ Website: https://www.whatbitcoindid.com/
→ Email list: https://www.whatbitcoindid.com/subscribe/

LEARN ABOUT BITCOIN & CRYPTO:
→ Step by Step Guide: https://www.whatbitcoindid.com/beginners-guide
→ Training: https://www.whatbitcoindid.com/training/
→ Resources: https://www.whatbitcoindid.com/resources/

****

“You’d be crazy to sell right, now. There’s more buying the dip than ever seen before, a new record for 2021 and we know the person that’s buying the dip is Rick Astley and he’s not going to let us down.”
— Willy Woo

Location: Remotely
Date: Thursday 25th March
Company: Hypersheet
Role: Co-Founder

In the first two weeks of March, the bitcoin price bounced from around $45k to a new all-time high and local top of $62k. The price then dropped significantly, with many blaming CryptoQuant for the sell-off after posting a message in their Telegram group saying, "18,961 #BTC ($1,145,210,023) aggregated inflow to #Gemini: be careful downside risk from whale dumping" just moments before the price began to crash.

While the data was accurate and someone moved a large amount of bitcoin into a Gemini wallet, it was misleading. The move was from BlockFi into Gemini's custodial wallets.

But during these dumps, who are the buyers? Willy thinks the people buying the dip are 'Rick Astleys'; HODLer's of last resort who 'never give up, or desert bitcoin'.

In this episode, I talk to on-chain analyst and the co-founder of Hypersheet; Willy Woo. We discuss the drop from $62k, Cryptoquant's analysis, the "Rick Astleys" buying the dip and how to catch the top of the market.