In its latest analysis, cryptocurrency analysis company CryptoQuant evaluated the possibility of a rally of Bitcoin in the third quarter of 2024. The company claims that concerns about selling pressure from Bitcoin miners have been resolved, paving the way for a potential market rally.
According to analysts, one of the important factors that caused the cryptocurrency market to decline recently was the selling pressure of Bitcoin miners. Until recently, the market had not been able to fully absorb the sales volume from miners. However, CryptoQuant notes that this selling pressure has largely diminished for two main reasons:
Decreasing Selling Volume: The amount of Bitcoin sent to exchanges by miners has decreased significantly since May. This decrease shows that the selling pressure from miners has decreased.
OTC Desk Volume Depleted: The volume of Over-the-Counter (OTC) desks used by miners for sale was piling up until recently as they could not find buyers. However, the OTC desks were completely depleted in volume on June 29, indicating that a buyer may have stepped in to purchase Bitcoin.
With this significant decrease in selling pressure from miners and the rapid digestion of selling volume, CryptoQuant believes that sufficient conditions have formed for Bitcoin to resume an upward rally in the third quarter of 2024.
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So who will benefit?
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I EXPLAIN IN DETAIL.
My brothers and sisters who have become a Binance member without reference, please listen carefully;
When you do what I say, you will receive 10 USDT.
Enter the Futures Section from your application,
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WHEN WILL THE AWARD COME?
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