Bitwise consultant Jeff Park published an article stating that the current market structure is fundamentally not conducive to a significant price increase in Bitcoin. The reason for this is that on one hand, Bitcoin
OG holders continue to sell, while on the other hand, demand from ETFs and DATS is simultaneously slowing down. For Bitcoin to recover from this situation, it needs to continuously return to significantly higher implied volatility levels, particularly upward volatility.
OG holders continue to sell, while on the other hand, demand from ETFs and DATS is simultaneously slowing down. For Bitcoin to recover from this situation, it needs to continuously return to significantly higher implied volatility levels, particularly upward volatility.