Analyst: Weekly distribution by Bitcoin long-term holders fell 22%, easing selling pressure but narrowing profits
Let's lay out both sides:
Bullish case: Bad news coming out actually means there’s one less uncertainty;
Bearish case: Confidence has taken a hit, so short-term buyers may hold back a bit;
My view: Both sides have a point. Ultimately, it comes down to how $BTC ’s price and trading volume move.
$BTC is currently at 79895.25, 24h -1.4%, 24h range 79710 ~ 81823.
Let's lay out both sides:
Bullish case: Bad news coming out actually means there’s one less uncertainty;
Bearish case: Confidence has taken a hit, so short-term buyers may hold back a bit;
My view: Both sides have a point. Ultimately, it comes down to how $BTC ’s price and trading volume move.
$BTC is currently at 79895.25, 24h -1.4%, 24h range 79710 ~ 81823.