“Long-Term Holders Selling As Market Consolidates Above $ 100,000.”, – WRITE: www.coindesk.com
HAS BEEN CONSOLIDATING ABOVE $ 100,000 Since The Start of May. The only Time the Price Drop Below $ 100,000 Was on 22 June, WHICH WAS A Weekend WHEN TENSIONS ESCALATED BETWEEN IRAN AND The US
However, Due to Typically Low Trading Volume Over Weekends, Price Action Is Often Less Reliable Dringing Those Periods Since Crypto is the only Industry that trades.
Despite Ongoing Discussions About Public Companies Acquiring Bitcoin Globally, On Top of The Availliness of Exchange-Traded Funds in The United States New All-Time Highs Above $ 112,000.
On -chain Data, Specially The Revived Supple Breakdown by Age, Shows Elevated Levels of Bitcoin Being Sold by Investors Who Held Their COINS FOR A MINIMUM OF 3 YES
Analyst Checkmate Provided This Data and Commented, “Look at All This Price Suppression Selling by Market Manipulators Who Acquired Their Coins More Than 3 Yells Ago and Ago and Ago and Ago and Ago. Market … Much Paper. ”
This Implies that for every buyer there is a seller, and in a bull market, the Higher the Price Climbs, the More Likely The Market Will Find Sellers Willing to Offload Their Holdings.
Checkmate Further Added, “Always Chopping Sideways. Supppression == Boredom.” As Bitcoin Has Been Consolidating for Some Time, This Is Typically Where The Narrative of Market Suppression Gains. However, the Data Indicates that person present selling Pressure Continues Racher than Deliberate Supppression.
In addition to his professional endeavors, James Serves as an Advisor to Coinsilium, A UK Publicly Traded Company, WHERE HE PROVides Guidance on Their Bitcoin Treasury Strategy. He Also Holds Investments in Bitcoin and Strategy (MSTR).
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