$BTC Last night, South Korea's political arena changed dramatically. President Yoon Seok-yeol announced martial law. Although he finally succumbed to the pressure of the Congress and lifted martial law after 5 hours, it still caused the BTC price on the Korean exchange to plummet by 30%. The global market was also affected by it and the price dropped to $93,500 in the short term. Currently, BTC is consolidating between $90,000 and $100,000. A large number of turnover operations are completed in this range. Once it breaks through, I believe that $100,000 will be a solid support level for the second half of the bull market.
Saylor immediately bought another $1.5 billion of BTC the next day after he tweeted that he would continue to increase his purchase of BTC. Currently, MicroStrategy holds 402,100 BTC at an average price of $58,402. Microsoft's board of directors in the middle of the month also attracted much attention. If it is finally passed, a business empire like Microsoft, which is n times larger than MicroStrategy, will also join the team to buy BTC, and the time required for BTC to become digital gold will be greatly shortened. 🫨
As more and more institutions and countries join, the amount of BTC held by exchanges is decreasing, and this trend has become more obvious since November. Bitwise's research director believes that the structure of BTC holdings is transforming. As institutions and countries hold more and more BTC, the amount of BTC available for trading on exchanges is decreasing. In the future, 75%+ of BTC will be illiquid, and the supply of exchanges will drop to less than 14%. The scarcity of BTC will be visible to the naked eye. 🫣
In the bear market, many people shouted that $69,000 is the eternal ceiling of BTC, and in the six months of the mid-year correction period, they shouted that this round of bull market is over. Now, more people are shouting that the bull market is over during this consolidation period. Although the number of searches and views related to cryptocurrencies on Google and Wikipedia has increased significantly, it is still far from the bull market in 2017 and 2021. New investors have not yet entered the market, the bull market of BTC has just finished the first half, and the bull market of the cottage season has just begun, so what are you afraid of? Are you afraid of making money? 🤣
