🪙 𝗜𝘀 𝘁𝗵𝗲 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗕𝗼𝘁𝘁𝗼𝗺 𝗡𝗲𝗮𝗿?
Data shows that new investors are behind the BTC sell-off, but the exhaustion of sellers could mean a local bottom for BTC.
🗣 Glassnode analyst wrote: “In the early stages of the bull run in both 2020-21 and 2023-24, we can see a confluence of distribution cycles (light colors) and price decline intervals.
As the market reaches new highs, selling pressure will reactivate as investors bring idle supply back into the market to meet rising investor demand.”
🤔 𝙏𝙝𝙚 𝙖𝙣𝙖𝙡𝙮𝙨𝙩𝙨 𝙖𝙡𝙨𝙤 𝙖𝙙𝙙𝙚𝙙: “𝙎𝙞𝙣𝙘𝙚 𝙩𝙝𝙚 𝙥𝙧𝙞𝙘𝙚 𝙞𝙨 𝙞𝙣 𝙩𝙝𝙚 𝙧𝙖𝙣𝙜𝙚 𝙛𝙧𝙤𝙢 $55 𝙩𝙝𝙤𝙪𝙨𝙖𝙣𝙙 𝙩𝙤 $66.7 𝙩𝙝𝙤𝙪𝙨𝙖𝙣𝙙, 𝙩𝙝𝙚 𝙈𝙑𝙍𝙑 𝙘𝙤𝙣𝙙𝙞𝙩𝙞𝙤𝙣 𝙞𝙨 𝙢𝙚𝙩, 𝙖𝙣𝙙 𝙞𝙩 𝙘𝙖𝙣 𝙗𝙚 𝙖𝙧𝙜𝙪𝙚𝙙
