The weekend data shows that there are not many surprises. Although the price of BTC rose to above $64,000 during the weekend, the actual trading volume did not increase significantly, and it continued the positive sentiment on Friday. As for whether the price breakthrough can be achieved, it depends on the trend of the US stock market after the opening of next Monday.
In the weekend data, further liquidity cuts have become a consensus. Judging from the conclusions drawn from the data, it is still the same old three things. Investors who made profits and losses in the early stage have not left the market significantly. The most selling is still short-term bottom-fishing investors, and the four BTC accumulation support levels have not changed significantly. After hearing this, I guess my friends are numb, and so am I. It turns out that earlier investors really have no interest in the current price. They are not only not interested in $64,000, but even at $56,000, these investors are still not interested. In this $8,000 gap, there is actually no obvious change in earlier investors.
In Friday's ETF data, we saw that the entire ETF market, including the three ETFs in Hong Kong, had an increase in incremental data. The third-tier funds that had previously reduced their holdings in large quantities have increased their holdings by hundreds of BTC. With Powell's speech and non-agricultural data, there has indeed been a big boost in sentiment, but it is still unknown how long this emotional boost can last, and the change in liquidity is not obvious. If the market wants to maintain its upward trend, it needs more liquidity stimulation.
But through this pullback and rebound, we have basically made it clear that more investors are not paying too much attention to the changes in #BTC . Whether it is betting on the halving cycle, betting on the Fed's interest rate cut, or betting on the release of liquidity in the US election, it is not a short-term thing. An important reference point is how long the purchasing power of the#Bitcoinspot ETF can last.
Compared with the opportunity to refresh the lowest BTC inventory on the exchange in nearly six years almost every day two weeks ago, the number of BTC accumulated on the exchange in the past two weeks has been increasing. As of today, the lowest inventory in nearly six years has exceeded 1.More than 80,000 BTC, that is to say, these 18,000 BTC are the part that has been accumulated in the exchanges in the past two months and may not have been digested yet.
