Bitcoin
It has been consolidating above $ 100,000 since the beginning of May. The only time the price drop below $ 100,000 was June 22, which was a weekend when tensions intensified between Iran and the United States.
However, due to the volume of negotiation typically low during the weekends, the price action is often less reliable during those periods, since cryptography is the only industry that continuously quotes.
Despite continuous discussions about public companies that acquire Bitcoin worldwide, in addition to the availability of funds quoted in exchange in the United States, investors still wonder why Bitcoin has not yet been broken in new historical maximums exceeding $ 112,000.
The data in the chain, specifically the breakdown breakdown revived by age, show high levels of bitcoin sold by investors who have maintained their coins for a minimum of 3 years and, in some cases, for more than 10 years.
The Checkmate analyst provided this data and commented: “Look at all this price suppression sale for the market manipulators who acquired their coins more than 3 years ago and they are definitely not sold for profit in a bullish market … much paper.”
This implies that for each buyer there is a seller, and in an upward market, the higher the price rises, the more likely the market will find sellers willing to download their holdings.
Checkmate also added: “Always cutting to the sides. Suppression == boredom.” As Bitcoin has been consolidating for some time, it is typically where the narration of market suppression gains traction. However, the data indicates that the persistent sales pressure continues instead of deliberate suppression.
