BitcoinLong
BTC Record Sell Volume Shocks Bulls but 88% still in profit
Bulls are still trying to find their footing after the 12th January record sell volume.
The market is looking to turn the novel 40k resistance to support which represents the psychological level of x2 2018 ATH and $1 Trillion Cryptocurrency Market Capitalisation.
Despite record sell volume, bears are unable to shake bulls as 88% of addresses still remain in profit while the supply squeeze becomes tighter and tighter
Of the 18.5 million Bitcoin in Circulation, only 4.2 million are in constant circulation which is frantically being bought up by hedge funds and wealthy investors.
Major traditional trading platforms are looking to enter the cryptocurrency space to meet the next wave of retail investors but are having trouble securing a liquid supply of bitcoin to meet the demand.
This is forcing the new wave to Binance, Coinbase and Huobi with a short time to buy up bitcoin as Coinbase, the exchange with a substantially higher bitcoin balance than other exchanges seeing 7% of its balance taken off of the exchange and transferred into personal wallets within the last month.
The market is looking to turn the novel 40k resistance to support which represents the psychological level of x2 2018 ATH and $1 Trillion Cryptocurrency Market Capitalisation.
Despite record sell volume, bears are unable to shake bulls as 88% of addresses still remain in profit while the supply squeeze becomes tighter and tighter
Of the 18.5 million Bitcoin in Circulation, only 4.2 million are in constant circulation which is frantically being bought up by hedge funds and wealthy investors.
Major traditional trading platforms are looking to enter the cryptocurrency space to meet the next wave of retail investors but are having trouble securing a liquid supply of bitcoin to meet the demand.
This is forcing the new wave to Binance, Coinbase and Huobi with a short time to buy up bitcoin as Coinbase, the exchange with a substantially higher bitcoin balance than other exchanges seeing 7% of its balance taken off of the exchange and transferred into personal wallets within the last month.
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