CryptoQuant CEO: Bitcoin may face a seller liquidity crisis within half a year
Ki Young Ju, founder and CEO of CryptoQuant, wrote on the X platform that last week, the net inflow of spot Bitcoin ETFs reached 30,000 BTC. Known entities such as exchanges and miners hold about 3 million BTC, of which US entities hold about 1.5 million BTC. At the current rate, a seller liquidity crisis may occur within the next six months. He also stated that the Bitcoin market is in a price discovery phase. Once a seller liquidity crisis occurs, due to limited seller liquidity and weak order books, the next cycle peak of Bitcoin may exceed expectations. This could happen when the total amount of Bitcoin held in accumulation addresses reaches about 3 million BTC.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
241114: Bitcoin Hits New All-Time High of $93K as U.S. Demand Soars
Bitcoin reached a record high of over $93,000 on Nov. 13, driven by surging demand from U.S. investors. This price increase began as U.S. markets opened, suggesting that American buyers played a major role. Notably, Bitcoin’s Coinbase Premium Index, which measures U.S. buying pressure, hit its high
Pepe’s market cap briefly tops $10 billion on back of 77% price surge
The price of the frog-faced memecoin surged 77% in the past 24 hours to trade at $0.000024.Major exchanges, including Coinbase, Robinhood and Upbit, have recently listed Pepe trading pairs.
ETH killers are still no closer to doing the deed
Solana is the crowd favorite to potentially flip Ethereum somewhere down the line, and it tends to feel realistic at times
Bitcoin at $100k very possible before EOY, analysts say
The market is due for a breather, but analysts expect prices to continue moving up in the coming weeks
Trending news
MoreCrypto prices
More
