Bitcoin price could soon rise again to become “full bullish” and allow the cryptocurrency to cross the $80,000 level, but before that a capitulation could occur and BTC could fall below the $50,000 level There is sex.
According to popular crypto analyst Cole Garner, on-chain liquidity is currently tight with “a common prerequisite to a full bull.” In a series of posts on microblogging platform He pointed out that there is a possibility that the company could continue to profit from this.
Gierner believes that global central bank liquidity is expanding and that “further downsides may lie ahead,” but central banks in China, Japan and the United States are keeping pace with global money supply. He pointed out that the increase should be maintained.
He also noted that the supply of major stablecoins USDT and USDC has been decreasing since the beginning of this month, noting that the quarterly stablecoin supply rate “tends to lead the price.”
In the chart he shared, the analyst suggested that Bitcoin price could fall below the $50,000 level before re-entering the bull market and possibly break above the $80,000 level in the near future.
However, as reported, recent analysis suggests that short-term BTC holders are “gradually exiting” the market, leading to a reduction in selling pressure.
According to an analysis conducted by CryptoQuant analyst IT Tech, the supply of Bitcoin held by short-term holders is decreasing “particularly after large declines,” which reduces selling pressure and provides “an opportunity for accumulation.” “This could suggest a lower bound for prices.”
The analyst noted that when short-term holders sell their coins, they often end up in “stronger hands, potentially stabilizing the market.”
In Bitcoin, new whales are adding BTC to their holdings amid an “unprecedented” accumulation trend in the market, as whales that entered the market during the recent bull run continue to seek profits. He added, “vigorously.”
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