Let me first state the conclusion: Bitcoin will fluctuate in a narrow range here and then start a bull market.
A super "huge volume column" was formed at a single price of $66,000, accumulating 570,000 BTC. This cumulative scale has exceeded the accumulation at $16,000 (the historical bottom of this round), becoming the first height of the price column on URPD.
You need to know that the formation of a "huge volume column" means that a large amount of movement (change of hands) has occurred at this price. This includes: transfers in/out of ETF wallet addresses, transfers on the OTC chain, and transfers in/out of exchanges (such as Mt.gox wallet transfers to exchanges). Most of these movements are related to BTC transactions. Therefore, we can assume that a fierce long-short game has occurred at $66,000.
Despite the high market heat, we must admit that there have been large investors who have continued to sell at high levels. By using the browser filtering function, we found that from January to July 2024, the last activity of the address was earlier than October 28, 2020, and the total transaction volume of Bitcoin with each transaction exceeding 5,000 was about 260,000.
However, from January to July 2023, using the same screening rules, the trading volume of Bitcoin is only 60,000. Does this mean that the market will fall? Not really. According to historical experience, the behavior of a large number of "old coins" activities may usually be slow shipments for the next round of price increases. In addition, from the data below, we can see that the current market interest is not high enough. Therefore, the price of Bitcoin is very likely to maintain a period of volatility, and the price will continue to sprint upward to about $20,000.
With the rise of Bitcoin, this round of altcoins may not have a general rising effect.
But some individual altcoins will explode violently. You can #美国大选如何影响加密产业？ Comment on my order #美国以太坊现货ETF开始交易 #美国以太坊现货ETF开始交易
