Famous analyst Willy Woo examined in detail the factors that triggered the current Bitcoin (BTC) decline. According to Woo's analysis, early stage investors (Bitcoin OGs), who hold long-term and large amounts of BTC in the Bitcoin market, create a significant selling pressure in the market by intensively selling their BTCs.
The graph shared by Woo based on his analysis shows a significant increase in the coin days destroyed metric. This metric measures the number of days that long-dormant Bitcoins have been transferred through multiple wallets. This increase in the chart indicates that BTCs held for a long time are transferred to the exchanges to be sold to the market, thus causing an increase in sales pressure in the market.
In his analysis, Woo emphasized the impact of Bitcoin OGs on the market by using the following statements: "Let me tell you who is selling first: OGs. They are selling the BTC they have. They have more BTC than all the ETFs combined... 10 times more. And they sell in every bull market.â These statements show that early stage investors have a great influence on the market and are pushing prices down by selling the large amount of BTC they hold.
According to the analyst's evaluations, as long-term investors sell their Bitcoins, these sales create more selling pressure in the futures markets. Woo pointed out that futures markets (paper BTCs) contributed to the decline in Bitcoin prices by increasing the selling pressure in the spot market. Liquidations in futures markets are creating further selling pressure in the spot market, deepening Bitcoin's price decline.
PLEASE READ CAREFULLY FOR A GIFT OF 10 DOLLARS.
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Now I will tell you how to receive your gift. First of all, Binance users who have registered with someone's reference and actively use futures transactions will unfortunately not be able to benefit from this promotion.
So who will benefit?
Our friends who have not activated the futures section yet, while activating your FUTURES trading section, you will earn 10 dollars when you open it by entering my reference code 88623008.
I EXPLAIN IN DETAIL.
My brothers and sisters who have become a Binance member without reference, please listen carefully;
When you do what I say, you will receive 10 USDT.
Enter the Futures Section from your application,
On the next screen, open your account by entering the code 88623008 in the REFERENCE CODE section,
My brothers and sisters who want to complete this transaction and receive the 10 USDT reward by MAY 1 can do so. After activating your account, all you have to do is open your first futures transaction.
The first 1,000 brothers to open a 200 USDT transaction by MAY 1 will receive a 10 USDT reward.
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WHEN WILL THE AWARD COME?
Your 10 dollar reward will arrive in the REWARDS section of your Binance application within 30 days, starting from May 1st. By activating it from there, you can use your reward of 10 dollars, or more than 300 liras, in futures transactions.
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BY THE WAY, MY BROTHERS, PLEASE DON'T MISS YOUR LIKES. EVERY SHARE IS FOR YOU. SO DON'T WITHHOLD YOUR SUPPORT. DON'T FORGET TO FOLLOW IF YOU HAVE NOT FOLLOWED YET. KIND REGARDS.
