Although it is just Monday, the turnover rate of BTC has increased. As of now, the panic in the Asian time zone has not been completely curbed, especially the German government's sale, which seems to have become the fuse. But in any case, the German government still has 23,788 BTC in stock, which can be dealt with within this week at the fastest, or next week at the slowest.
Although Mentougou holds more than 140,000 coins, the current information shows that it will take two to three months for all its compensation to be in place, and about half of it will fall into the hands of institutions. As for how much will form selling pressure, it is difficult to determine. Some analysts in the United States believe that these BTC in Mentougou will not have much impact on the BTC market, but it is difficult to determine in terms of emotions.
The Mentougou incident has been talked about for many years, and it is better to deal with it as soon as possible. Two or three months later, it will be the early preparation stage of the US election, and it can be regarded as a good thing that the bad news has been exhausted.
Back to the data level of BTC, the early chips still did not show panic. The turnover rate in the last 24 hours was only 7.5% of the total turnover. The main selling came from the losing investors who bought the bottom in the past two days. The turnover rate of $64,000 to $69,000 reached 17%, which is not too much. This is also a stage of re-cleaning chips, and the support structure has not been damaged.
Monday's inflation data was positive, and Powell's speech on Tuesday and Wednesday is not expected to be too tough. After all, this is the achievement of the Federal Reserve. If Powell mentions the issue of interest rate cuts, it is positive. Even if he does not mention it, it is not negative. The focus is still on Thursday's CPI data, which is related to the bet on the September interest rate cut and needs to be paid attention to.
