🔹 Mt. Gox moved over 47k BTC and started repayments from the rehabilitation plan
🔹 German government sold 49,860 BTC ($2.90B) in the past 3 weeks
🔹 Bitcoin Spot ETFs reduced their balances (negative net flow)
🔹 Fed monetary policy uncertainty after Powell’s speech
There was a sudden turn of events after an attempt to assassinate Donald Trump.
🧵 Let’s check the current crypto market conditions.👇
1️⃣ Support and Resistance Levels
Bitcoin price has reclaimed above key support levels (STH Realized Price - it’s an average purchase price for Short Term Investors which hold Bitcoin less than 155 days).
2️⃣ USDT & USDC Analysis
In recent days, we’ve seen a significant increase in the market capitalization of both $USDT and $USDC. Greater liquidity in the crypto market facilitates larger Bitcoin transactions.
3️⃣ ⚒️ Miners are not extremely underpaid
Analysis shows that miners have been “fairly paid,” improving from “extremely underpaid” in recent days, thereby reducing selling pressure.
4️⃣ $BTC: Short-Term Holder Activity
In the past few days, short-term holders have realized significant losses. However, when the price is above the STH Realized Price ($62.7k), they are currently in profit.
5️⃣ Coinbase Premium
Demand is back in the US market. An increase in the Coinbase premium indicates higher demand for Bitcoin. Investors are willing to pay more, which is a positive signal for price growth.
6️⃣ Short-Term and Long-Term Holder Activity
Short-term and long-term Bitcoin holders play a crucial role. The stable supply of BTC in the hands of long-term holders, forming a local bottom, indicates market confidence, supporting price growth.
7️⃣ Demand on Bitcoin Spot ETF is back.
8️⃣ 🔮 Summary & Forecast
The combination of stable long-term holder confidence, increased liquidity from USDT and USDC, reduced miner selling pressure, and strong demand on Coinbase and Bitcoin Spot ETFs has contributed to Bitcoin’s recent price rebound. Expect continued.
Written by IT Tech
