IF YOU'RE WORRIED ABOUT BTC PRICE ACTION, READ THIS ๐จ
๐ป BTC's Downtrend:
- Since topping at $74K in March, BTC has been on a downtrend.
- Alts are down 50%-80% from their Q1 highs.
๐ Historical BTC Price Action:
- 2016: BTC went sideways for 161 days after halving.
- 2020: BTC went sideways for 175 days after halving.
- 2024: BTC has been going sideways for 119 days so far.
But, there are bullish signs many aren't noticing! ๐
๐ BTC Supply is Shrinking:
- Since July, ETFs and accumulation addresses have bought 450,000 BTC.
- Bitcoin supply on exchanges is at its lowest level in 6 years.
- Bitcoin long-term holders' accumulation is at its highest level in 15 months.
- 45% of BTC supply hasn't moved in 6 months.
๐จ Upcoming Supply Crunch Indicators:
- MicroStrategy is buying $2B worth of BTC.
- Marathon is buying $300M worth of BTC.
- BlackRock and other financial institutions are continuously accumulating.
๐ก What About Demand?
- Demand will pick up by Q4 with major events:
- FED rate cuts begin.
- Global QE starts, avoiding a global recession risk.
- Russiaโs international trade with crypto begins.
- FASB rule implementation will allow $3T+ of corporate cash to be invested into BTC.
๐ All these factors could lead to a parabolic run for BTC!
I gathered this information to guide you. Your vote means a lot!
