The work on Sunday is quite simple. As market makers and institutions enter the rest day, the messy data has disappeared. The BTC held in the past few days has stabilized, and the overall turnover rate is also decreasing. This is the low liquidity on weekends. When I opened Space in the evening, I heard that BTC started to plummet, and now it has come back. This problem has actually been discussed for a long time. It is normal for prices to fluctuate as liquidity decreases on weekends or holidays in the United States.
The key point is to see the sentiment of investors after the opening of the U.S. stock market. In recent days, many friends have had various problems with $MSTR. I also talked about it in Sapce today. Don’t pay too much attention to the price of MSTR corresponding to BTC. Just focus on its profitability and business model. Especially now that we have entered the earnings season for technology stocks, the Federal Reserve has started to cut interest rates again, and risk appetite has increased. There is no problem with more investors starting to lay out price troughs. The key point is still to look at the expectations of #BTC.
Back to the BTC data, there is nothing much to say. After entering the weekend, the abnormal movements of earlier holders disappeared, and the turnover is still that of short-term investors, especially those who are losing money. This is all very normal. For the long-short game, it is normal to maintain a wide range of fluctuations before there is actual good or bad information. We have been saying this for at least three months.
BTC has very little turnover, and its impact on support is even less. I think some of my friends should not worry about the word "support". Support is not only the support of K-line. The chip-dense area of on-chain data is also support. There is no need to urge me to change the word every day. Changing the word does not mean that the price will fall or rise.
The data has been updated, address: https://docs.google.com/spreadsheets/d/1E9awSVwrVOxKOiaMdYT5YZvfveeFd9ENU-iO6dVcGj0/edit?usp=sharing
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