Money is still flowing out of the market. Another $720 million worth of USDT was burned over the past 24 hours 😳, bringing the total reduction over the past 7 days to $3.094 billion.
With stablecoins being burned continuously, it’s only natural that buying pressure is weak. $BTC is currently at 75811, while $ETH and $BNB have also been stuck in place. Trading has gone very quiet, with volume at just 0.3 times the daily average. Hardly anyone is trading.
Bitcoin is now hovering almost right above its recent lows. There’s no major selling pressure, but no fresh money coming in to buy either. It’s really a grind. Are you still holding any U?
#BTC
With stablecoins being burned continuously, it’s only natural that buying pressure is weak. $BTC is currently at 75811, while $ETH and $BNB have also been stuck in place. Trading has gone very quiet, with volume at just 0.3 times the daily average. Hardly anyone is trading.
Bitcoin is now hovering almost right above its recent lows. There’s no major selling pressure, but no fresh money coming in to buy either. It’s really a grind. Are you still holding any U?
#BTC
