The price of #BTC once soared to $71,000, but the turnover rate on the chain was significantly reduced compared with the same period yesterday. From the data point of view, today's turnover rate is somewhat abnormal, and some holders from $58,000 to $65,000 have reduced their holdings.
It has been a long time since BTC in these ranges have collectively reduced their holdings by more than 0.01%. Although the amount of reduction is not large, it adds up to nearly 15,000 BTC. I don't know if it has triggered some institutions' risk aversion. It is not certain at present and needs to be observed.
There is no problem in other aspects. The support of $64,000 to $69,000 is still good, and there has been no large-scale transfer due to the rise in BTC prices. Today's employment data is relatively marginal, and tomorrow's small non-agricultural data may cause greater fluctuations. However, the gap between the small non-farm data and the non-farm data in the past year is also quite large, and the Federal Reserve mainly focuses on the non-farm data, so even if the small non-farm data is good, it does not mean that it can be synchronized with the non-farm data, after all, the statistical institutions are different.
Earlier investors still maintain a calm and bystander attitude and do not participate too much in the turnover. But based on past experience, if the non-farm data can really achieve an unemployment rate of more than 4%, it is not ruled out that BTC will set a new high. And BTC will see a large number of market crashes after each new high in 2024. I don’t know if this tradition will continue this time.
There are some changes in the stock data of the exchange. The data of the large reduction last Friday should be attributed to the transfer within the exchange. Although the stock of the exchange has declined in the past two days, it is still 10,000 BTC away from the lowest stock in the past six years.
