Bitcoin Emerged Stronger from the Last Crisis: Here are the New Dynamics of the Market!

On-chain analysis platform CryptoQuant analyst analyzed the current situation of the cryptocurrency market.

CryptoQuant analyst attracted attention with his post dated July 16. The analyst stated that there was a lot of negative news and FUD (Fear, Uncertainty and Doubt) for Bitcoin last month.

These FUDs include Mt. Gox, the transfer of over 47 thousand BTC, and the German government's sale of 49,860 BTC.

According to the analyst, with the influence of Donald Trump and the FED, the price of Bitcoin rose above important support levels:

Short Term Holder Realized Price, which is the average purchase price of short-term investors, was regained. This shows that short-term investors are currently in profit.

Selling pressure in cryptocurrencies is decreasing

In recent days, there has been a significant increase in the market value of both USDT and USDC. Increased liquidity in the crypto market has facilitated larger Bitcoin transactions. Additionally, miners have recently moved from “extremely low payout” to “fair payout”, reducing selling pressure.

According to the analyst, short-term investors have suffered significant losses in recent days. However, these investors also made a profit as the Bitcoin price rose above $ 62,700.

Demand has returned in the US market and the increase in the coinbase premium has revealed increased demand for Bitcoin.

This revealed that investors were willing to pay more, which was a positive signal for the price increase.

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