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Important onchain information March 22. BTC is trading at a price above 28k.

As updated in the previous post, however, today’s data will help you have a better overview of BTC Observing the h1 chart, you can easily see the amount of BTC in and out from exchanges. When a large amount of BTC continuously leaves the exchange, it proves that they have accumulated buying behavior on the exchange and then withdrawing to store it in their personal wallet. The opposite case is currently the amount of BTC that has been continuously net-loaded on the exchange in a fairly large amount during the price increase. Referring back to the behavior of the past, it can be seen that after a certain time the price will collapse very strongly after that. However, since it is onchain, there will always be a delay and some catalysts such as interest rates or FUD will be needed to validate the price line. Next who is buying BTC now. At the moment, there are strong signs of FOMO of the fry while the fins with a balance from 1 to 10 million USD are out of stock (h2). The fry wallet addresses started buying wildly from the range around 24 25k while the whales started selling very strongly in that range. Wondering how far BTC can go based on the buying power of the fish and the 35k 65k FOMO people out there. The fry are also buying at a fairly high price point and the profit from their positions is negligible so their expectation above 30k is justified. However, an asset that wants to grow sustainably cannot rely on derivatives, and the weak buying power of the fry leads to an inevitable adjustment. If you want to pump BTC further, you need more money, but in the past few days, a large amount of stablecoins has been continuously withdrawn from the exchange, showing signs of profit taking. (h3,4,5) including USDT, USDC ,BUSD. concluding this is officially a bull trap btc price behavior is the same as last year when BTC went from 32 to 48k and last year i said BTC resisted the fines of cross-border remittance banks and A new generation entered the market as liquidity. This year, BTC resists illiquidity differently from banks and is a safe investment channel. And then you know the end, so what do you do after that?

Source: Collector



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