đč Mt. Gox moved over 47k BTC and started repayments from the rehabilitation plan
đč German government sold 49,860 BTC ($2.90B) in the past 3 weeks
đč Bitcoin Spot ETFs reduced their balances (negative net flow)
đč Fed monetary policy uncertainty after Powellâs speech
There was a sudden turn of events after an attempt to assassinate Donald Trump.
𧔠Letâs check the current crypto market conditions.đ
1ïžâŁ Support and Resistance Levels
Bitcoin price has reclaimed above key support levels (STH Realized Price - itâs an average purchase price for Short Term Investors which hold Bitcoin less than 155 days).
2ïžâŁ USDT & USDC Analysis
In recent days, weâve seen a significant increase in the market capitalization of both $USDT and $USDC. Greater liquidity in the crypto market facilitates larger Bitcoin transactions.
3ïžâŁ âïž Miners are not extremely underpaid
Analysis shows that miners have been âfairly paid,â improving from âextremely underpaidâ in recent days, thereby reducing selling pressure.
4ïžâŁ $BTC: Short-Term Holder Activity
In the past few days, short-term holders have realized significant losses. However, when the price is above the STH Realized Price ($62.7k), they are currently in profit.
5ïžâŁ Coinbase Premium
Demand is back in the US market. An increase in the Coinbase premium indicates higher demand for Bitcoin. Investors are willing to pay more, which is a positive signal for price growth.
6ïžâŁ Short-Term and Long-Term Holder Activity
Short-term and long-term Bitcoin holders play a crucial role. The stable supply of BTC in the hands of long-term holders, forming a local bottom, indicates market confidence, supporting price growth.
7ïžâŁ Demand on Bitcoin Spot ETF is back.
8ïžâŁ đź Summary & Forecast
The combination of stable long-term holder confidence, increased liquidity from USDT and USDC, reduced miner selling pressure, and strong demand on Coinbase and Bitcoin Spot ETFs has contributed to Bitcoinâs recent price rebound. Expect continued.
Written by IT Tech
