BTC breaks below the psychological barrier of 70k, are you panicking?
Just now in the statistical data:
On 10/29, STH sold 232,000 coins, LTH sold 15,000 coins;
On 10/30, STH sold 251,000 coins, LTH sold 18,000 coins;
On 10/31, STH sold 207,000 coins, LTH sold 11,000 coins;
It can be seen that:
1. From 10/28 to 10/30, the main selling pressure came from "short-term profit" holders, while on the 31st, the main selling pressure came from short-term "stuck holders";
2. The 29th and 30th were an accelerated distribution process, involving both LTH and STH. By the 31st, the selling pressure began to weaken.
3. In the coming days, continue to observe whether the data shows a sustained decrease in speed or accelerated distribution, which can serve as one of the short-term judgment criteria.
4. Currently, the average cost for STH is around 64,000. As long as this level is not broken, we believe the trend remains unchanged.
