In the past 24 hours, the fluctuation of BTC on the chain has finally shown some bull market appearance. Although I didn't have time to update it yesterday, I still keep the data. Last night, with the help of CPI, the price of #BTC rose well, but the overall liquidity was even lower than Tuesday, with only more than 70,000 BTC changing hands, which is almost the level a year ago. You should know that there were still fluctuations of about 120,000 to 140,000 last month.
Today, nearly 180,000 BTC were changed hands, and the focus is still on investors who have held positions for nearly a week. Earlier profitable investors and loss-making investors have not participated in the turnover too much. The turnover rate of investors with a holding cost of less than US$60,000 is only 7.7% of the total circulation on the day, and the turnover rate of investors with a holding cost of more than US$66,500 is only 3.4% of the total circulation on the day. Early investors still have no reaction to the current price.
The high point in the last month was $67,000, and the low point was $56,500, with a difference of more than $10,000. However, the holdings of early investors have not decreased significantly, especially the holdings of investors in the range of $63,000 to $68,000 have not decreased so far, but have increased by nearly 300,000 BTC. This is exactly what I have always emphasized. Around $65,000 is the support level for current holders. As long as these investors do not leave the market in large numbers, the price decline will be relatively limited.
Not only the current support level, but also the BTC that has left the market at the first three support levels in the past month is extremely limited. More investors are still betting that there may be a big rise like in 2021 after the halving this year, so even if the macro sentiment has been adjusted, most investors are still waiting patiently.
The only difference this time is that the previously vacuum zone of $60,000 to $63,000 has now shown signs of high holdings, but these investors have not yet experienced a long period of washing, and it is not certain whether they will remain, after all, they are mainly investors who have held positions for nearly a week.
From the perspective of the stock of the exchange, there were about 13,000 stocks yesterday, but thanks to the CPI data, it can be seen that as of today, the lowest BTC inventory value in nearly six years has been refreshed again, which shows that yesterday's purchasing power was quite strong. In fact, we can see the clues from today's #BTC #BTC F data, but we don't know how long this purchasing power can last.
