An in-depth analysis of Bitcoin's buying and selling pressure: Is the short-term bottom here? What lies ahead?
Author: SoSoValue Research Translation: WuBlockchain This article was written on July 4, and some information and data are delayed. Today, after Bitcoin's price quickly broke through the crucial support level of $56,000, it has become difficult to make investment judgments from a traditional technical perspective. Where is the bottom of this downturn? This has become the most pressing question for all investors. Whenever the market faces such large-scale panic moments, we return to first principles and analyze the fundamental mechanisms of price formation by examining the supply and demand dynamics of Bitcoin. Through studying the state and motivations of buyers and sellers, we hope to help investors find the best buying point in a market filled with diverse opinions and emotions. ● Selling Pressure: The German government's sell-off, Mt. Gox exchange repayments, potential early-year profit-taking, and miner follow-up selling are mainly occurring on crypto exchanges and can be ...