🚗💨 Bitcoin is accelerating, but why isn't it moving forward? It turns out that long-term HODLers are braking! According to on-chain analyst James Check, although Bitcoin's price has not yet set a new record, they have kept the price stable at around $95,000 since November 20.
- Bitcoin is like a car, demand is the gas pedal, and selling pressure is the brake. Michael Saylor and the spot Bitcoin ETF are speeding up on the buy side, but HODLers are braking on the sell side. So, the car isn't going anywhere!
- After rising drastically to $100,000 in November, Bitcoin has entered a healthy consolidation phase. Daily profits to the exchange fell by 42%, a sign of reduced profit-taking activity.
- Bitcoin had fallen to $93,700 due to political tensions in South Korea, but returned to $96,000. Analyst 'Rekt Capital' said that as long as BTC can retest support, the price can stabilize at $96,400.
- In other crypto markets, the total capitalization has crossed $3.67 trillion! Binance Coin (BNB) rose 15% and Tron (TRX) jumped 68%. Let's discuss in the comments! 🚀