Ethereum News Daily Official TheBitTimes.com

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 ...

This week regulators joined hands to highlight the crypto sector’s inherent risk, but pro traders fought back by adding leverage to their long positions. It’s possible that many people have already forgotten that Bitcoin’s (BTC) price closed 2022 at $16,529 and the recent rebound and rejection at the $25,000 level could raise concern among certain investors. Bears are pushing back at the $25,000 level and there has been multiple failed attempts at the level between Feb. 16 and Feb. 21. Currently, it looks like the $23,500 resistance is continuing to gain strength with every retest.  Pinpointing the rationale behind Bitcoin’s 45.5% year-to-date gain is not apparent, but part of it comes from the United States Federal Reserve’s inability to curb inflation while raising interest rates to its highest level in 15 years. The unintended consequence is higher government debt repayments and this adds further pressure to the budget deficit. It’s virtually impossible to predict when the Fed wil...