Dissecting the current selling pressure of Bitcoin, how far is it from $73,000?
(Strategy Cooking Page)
Selling pressure 1: Mentougou Bitcoin
Just last Friday, the German government sent the last 3,846 bitcoins to the trading platform, and the bitcoins in its address were completely exhausted. Bitcoin also turned to rise, but after regaining a positive attitude, there is still "140,000 bitcoin selling pressure" in Mentougou hanging over the market.
Selling pressure 2: Miner income
In terms of "historical legacy factors", in addition to special selling pressure sources such as the Mentougou bankruptcy incident and the government's seizure of funds, there is also the regular selling source of Bitcoin miners that cannot be ignored.
According to CryptoQuant analyst joaowedson, Bitcoin miners transferred a total of about $166.2 billion worth of Bitcoin to CEX from 2023 to 2024, most of which occurred in 2024, and only $48 billion of Bitcoin was extracted.
Selling pressure three: Bitcoin profit-taking
Glassnode analysis shows that the position of Bitcoin falling below $54,000 at the beginning of this month is already lower than the average inflow cost of Bitcoin holders, so the Bitcoin spot ETF foundation chose to start entering the market.
On the other hand, ETF fund flows are also closely related to inflation data, and last week's CPI data was weaker than expected. The market believes that ETF funds may continue to flow in.
