Awesome! It’s really over 1 million.
Right now, that single price point of $63,000 has already accumulated to 1.15 million BTC—an extremely rare phenomenon even by historical standards.
Although a recent Coldcard hardware wallet vulnerability has forced some long-term holders to transfer their BTC.
But that’s absolutely not the main reason behind the explosive turnover of supply and demand around the 63k range.
Instead, it’s the result of long-term accumulation while BTC’s price has stayed at low volatility.
At the same time, the concentration of nearby coins has risen to 13.5%.
Coin supply can’t pile up indefinitely. Once the long/short battle reaches the critical point, someone’s going to win.
I’m increasingly looking forward to what happens next.....
Right now, that single price point of $63,000 has already accumulated to 1.15 million BTC—an extremely rare phenomenon even by historical standards.
Although a recent Coldcard hardware wallet vulnerability has forced some long-term holders to transfer their BTC.
But that’s absolutely not the main reason behind the explosive turnover of supply and demand around the 63k range.
Instead, it’s the result of long-term accumulation while BTC’s price has stayed at low volatility.
At the same time, the concentration of nearby coins has risen to 13.5%.
Coin supply can’t pile up indefinitely. Once the long/short battle reaches the critical point, someone’s going to win.
I’m increasingly looking forward to what happens next.....