Something about this recent dip in $BTC feels completely misread by the crowd. It isn't just random selling, it feels like a genuine shortage of fresh money entering the room.
A piece on cryptoslate.com earlier today highlighted shrinking dollar-token circulation, even while central bank reserves actually rebounded. That helps explain why the total value of all coins took a 2.67% hit, bringing the overall market down to $2.57T.
With the sentiment reading down at 25 in extreme fear, I totally get why everyone is nervous. But Bitcoin share of that total value is sitting at 59.3%, which tells me people aren't dumping their main holdings for risky bets right now. They're just sitting tight.
Do you think we need to see fresh dollar-token creation before things turn around, or is there another driver you're keeping an eye on?
NFA | DYOR #BinanceSquare #WriteToEarn #BTC #MarketUpdate #Crypto
A piece on cryptoslate.com earlier today highlighted shrinking dollar-token circulation, even while central bank reserves actually rebounded. That helps explain why the total value of all coins took a 2.67% hit, bringing the overall market down to $2.57T.
With the sentiment reading down at 25 in extreme fear, I totally get why everyone is nervous. But Bitcoin share of that total value is sitting at 59.3%, which tells me people aren't dumping their main holdings for risky bets right now. They're just sitting tight.
Do you think we need to see fresh dollar-token creation before things turn around, or is there another driver you're keeping an eye on?
NFA | DYOR #BinanceSquare #WriteToEarn #BTC #MarketUpdate #Crypto