The weekend's data shouldn't be expected to be outstanding. This is the current situation. The data is increasingly resembling a bear market. The fundamental reason is that the fluctuation of #BTC's price between $60,000 and $70,000 is hardly of interest to investors, including both profit and loss investors. As we saw from the trading volume yesterday, the current trading volume is even lower than at the end of last year.
However, this situation may change next week. After the closing of the US stock market next Tuesday, @MicroStrategy will release its financial report. The price trend of BTC at the end of February was similar to the current one, with low liquidity and poor volatility. The stockpile even exceeded 1.2 million coins, and then surged to $73,000 under the stimulus of $MSTR's financial report. It's uncertain whether this will happen again.
In addition to MSTR, next Friday after the US stock market closes, @Coinbase will release its financial report. This time, $Coin's financial report includes the first-quarter #Bitcoin spot ETF earnings. If the market responds well, both MSTR and Coin have the potential to rally. So, apart from BTC, I personally plan to start buying some MSTR for short-term trading on Monday, then "Sell the News," and on Thursday, buy some Coin to see if I can make some money.
Looking at the data for BTC itself, the decrease in liquidity inevitably means that more BTC is involved in turnover. There's not much to say about this. Based on the current support data, around $65,000 is still the area with the largest recent chip stack. There are no signs that a large number of investors in this part are ready to exit, and the same goes for earlier investors. There are hardly any chips willing to move. That's how liquidity is on weekends, measuring the drama of the ups and downs with weekend prices.
The inventory of #BTC on exchanges is still tepid. On Friday night, it was seen that a considerable amount of selling pressure was consumed after 2 am, although it didn't refresh the lowest inventory in nearly six years. The gap is not very large, just under 3,000 BTC.
This also represents the sentiment of most investors, as we expected. The decreasing chips on exchanges indicate that more investors are not eager to sell. Although purchasing power is still limited, the purchased BTC is basically transferred to users' wallets, and the exchange's inventory can refresh the lowest inventory in nearly six years several times a week.
The data has been updated, and the link is: https://docs.google.com/spreadsheets/d/1E9awSVwrVOxKOiaMdYT5YZvfveeFd9ENU-iO6dVcGj0/edit?usp=sharing
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