๐ช ๐๐ ๐๐ต๐ฒ ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป ๐๐ผ๐๐๐ผ๐บ ๐ก๐ฒ๐ฎ๐ฟ?
Data shows that new investors are behind the BTC sell-off, but the exhaustion of sellers could mean a local bottom for BTC.
๐ฃ Glassnode analyst wrote: โIn the early stages of the bull run in both 2020-21 and 2023-24, we can see a confluence of distribution cycles (light colors) and price decline intervals.
As the market reaches new highs, selling pressure will reactivate as investors bring idle supply back into the market to meet rising investor demand.โ
๐ค ๐๐๐ ๐๐ฃ๐๐ก๐ฎ๐จ๐ฉ๐จ ๐๐ก๐จ๐ค ๐๐๐๐๐: โ๐๐๐ฃ๐๐ ๐ฉ๐๐ ๐ฅ๐ง๐๐๐ ๐๐จ ๐๐ฃ ๐ฉ๐๐ ๐ง๐๐ฃ๐๐ ๐๐ง๐ค๐ข $55 ๐ฉ๐๐ค๐ช๐จ๐๐ฃ๐ ๐ฉ๐ค $66.7 ๐ฉ๐๐ค๐ช๐จ๐๐ฃ๐, ๐ฉ๐๐ ๐๐๐๐ ๐๐ค๐ฃ๐๐๐ฉ๐๐ค๐ฃ ๐๐จ ๐ข๐๐ฉ, ๐๐ฃ๐ ๐๐ฉ ๐๐๐ฃ ๐๐ ๐๐ง๐๐ช๐๐
