Analysis of BTC selling pressure in Mentougou
As of July 12, 138,000 BTC remained in the Mentougou account, indicating that the selling pressure has not yet substantially affected the market. The decline on July 5 partially reflects the expectation of selling pressure. I personally believe that creditors will sell some BTC, not all.
If the compensation is completed within the month, the selling pressure will be similar to the German government's selling, and the ETF will be difficult to support, and the BTC price may continue to fall. If the compensation lasts for 2-3 months, the daily BTC volume entering the market will be small, avoiding a one-time plunge, but the expectation of continued selling pressure may cause market fluctuations. At present, only 1,545 tokens have been transferred to the exchange, and the actual selling pressure has not yet arrived. Large-scale distribution to trading platforms may trigger a panic plunge. Individual sales are difficult to track due to dispersion, and have limited impact on prices.
