The supply of BTC at a loss may fall by 50% before a sell signal
Bitcoin bull markets tend to end when the profitability of the supply crosses a certain threshold, argues CryptoQuant.
Reviewing the last bull market, which reversed in late 2021, on-chain collaborator Edge revealed that the profitability signals of the supply were in place for many months.
"When the % of the BTC supply loss falls below 4%, you should start aggressively selling BTC and wait for the next lows of the bear market," states the attached comment. Feliz Navidad 🎄
#Bitcoin ($BTC ) began the second half of July today with a price increase to 65,000 dollars (USD). This is the maximum price that it has reached so far since the beginning of the month, which reflects the strength of the market to recover from the fall. $ETH $BNB
Bullish forecasts on $BTC return after registering gains of 10%.
Traders and analysts have seen the pair $BTC /#USD fall to four-month lows and repeatedly fail to reclaim the $60,000 mark.
However, there is always the risk of bulls running out of steam at the hands of market manipulators or simply a lack of consistent demand, something this week's Wall Street trading sessions will no doubt determine.
In the last 30 days, #Bitcoin has plummeted more than 15% and the drop reached over 20%, trading just below $54,000.
That price has not been seen since February of this year and, if there was a recovery to the current USD 58,400, it still has not managed to overcome the psychological barrier of USD 60,000.
The losses occurred due to two determining factors: The return of tokens by the bankrupt exchange Mt. Gox and the strong selling pressure of the German government, which does not stop getting rid of $BTC .
While it is true that another more important factor is the sale of tokens by miners after the halving, the former White House advisor remains optimistic with #Bitcoin .
#Bitcoin represents a “buying opportunity”, while the fear and greed index increases.
#Bitcoin ($BTC ) is showing three important bullish metrics. According to experts, the metrics that he considers bullish for $BTC are realized losses, volatility and drawdown. The realized loss metric is the difference between the bid and ask prices of $BTC holders.
Volatility refers to how prices are dispersed historically for #Bitcoin .
Drawdown refers to how much BTC has fallen from its high of $73,737, reached four months ago.
#Bitcoin City is a planned smart city project in La Unión, 🇸🇻 El Salvador. The planned city is intended to be a tax haven and use geothermal energy to power #Bitcoin mining. The viability of its reliance on both geothermal energy and #Bitcoin has been the subject of criticism, along with concerns about delays in the project's financing and construction. .
In November 2021, Nayib Bukele announced that he planned to build #Bitcoin City in the southeastern region of La Unión at the base of the Conchagua volcano, which would use geothermal energy to power Bitcoin mining.
The planned city will use energy from the Conchagua volcano to power its infrastructure, as well as for cryptocurrency mining. The project, announced by President Nayib Bukele, will be financed by a $1 billion bond issued by state power company La Geo. Also known as “volcano bonds,” half of the proceeds from sales would fund the construction of #Bitcoin City and cryptocurrency mining.
🇸🇻El Salvador continues to bet on #Bitcoin . President Nayib Bukele announced his intention to create the first #Bitcoin City in the world. A city that would be located in the coastal area and would be initially financed by funds based on #Bitcoin .
🇸🇻In addition, it announced that it plans to issue $1 billion in 10-year bonds. Half of those proceeds will be used to purchase $BTC and to deliver dividends, while the other $500 million will be invested in energy infrastructure and mining of #Bitcoin .
$BTC The Bitcoin Law is a law approved on June 9, 2021 by the Legislative Assembly of El Salvador, with 62 votes in favor and 19 votes against. The law meant the adoption of bitcoin in El Salvador, becoming the first country in the world to approve the use of cryptocurrency. #Bitcoin El Salvador stores more than 5,600 Bitcoin totaling 406 million dollars, Bukele announces · Billionaires are richer today than in 2020.