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Заголовок Bitcoin Supply Spikes As Mt. Gox Moves BTC: What’s Next For Price?
Дата 20240703

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Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Supply Spikes As Mt. Gox Moves BTC: What s Next For Price?

Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Supply Spikes As Mt. Gox Moves BTC: What s Next For Price?

by Dalmas Ngetich

2 mins ago

in Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin News

0

Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin remains within an uptrend from a top-down preview, looking at the
performance in the daily chart, especially in Q1 2024. Bulls appear to be
taking over, with the coin floating above $60,000.

There Is Oversupply In Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin: Will Prices Fall?

Not everyone is convinced that the uptrend will last, at least based on
on-chain activities. Taking to X, one analyst pointed to developments in the
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin spent volume lifespan chart. There, the analyst noted a 10X increase
in BTC movements compared to previous highs.

BTC increasing supply from Mt. Gox | Source: @caprioleio via X

The massive influx, amounting to a staggering $9 billion, coincides with Mt.
Gox s planned user compensation in July, initially slated for October.
The analyst says the concern with this deluge is that it could trigger a
sell-off, further driving prices down.

Related Reading: Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum Co-founder Rolls Out Game-Changing Feature To
Accelerate ETH Transactions

The impact of Mt. Gox accelerated release of BTC to victims from October to
July sparked a sell-off in late June. Though prices recovered over the
weekend, there must be a convincing close above $63,000, marking June 24. If
buyers press on, with $60,000 acting as a foundation, any breach of $66,000
would be ideal and might pave the way for even more gains in the short to
medium term. Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin price trending sideways on the daily chart | Source:
BTCUSDT on Binance, TradingView

Technically, even with gains, bears are still in control. As it is, the coin
is within a bear breakout formation following on June 11 when prices slide,
setting the motion for the dip below $66,000.

Analysts Remain Upbeat: Expect BTC To Shake Off Weakness

Though there are concerns about the current recovery, some think the selling
pressure associated with Mt. Gox could be exaggerated. Responding to the
analyst s assessment, one user said Mt. Gox users were likely tech-savvy
early adopters with a clear understanding of what Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin offers.

Related Reading: Biden’s Crypto Policies Under Fire: Cardano Leader Speaks Out

Therefore, even with the defunct exchange distributing coins, they won t
be incentivized to sell on the fly. Also, the anticipated selling pressure has
likely been factored in, muting attempts to lower prices.

Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin entity-adjusted spent volume lifespan chart | Source: @jvs_btc via X

Another analyst, replying to the fears of increasing BTC supply, said .
However, the Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin spent volume lifespan chart paints a picture of a
potential deluge; the entity-adjusted version, which discards internal
transactions, reveals a more muted picture.

Based on this assessment, the analyst is convinced that the influx of BTC
supply from Mt. Gox creditors will likely be less dramatic than initially
feared.

Feature image from Canva, chart from TradingView

============= Итог: 4,3320 ; Экономика#Финансы#Платежные средства#Платежные системы интернета #Криптовалюта#Ethereum#Bitcoin 4,3320 ; Экономика#Финансы#Платежные средства#Платежные системы интернета #Криптовалюта#Bitcoin#Ethereum


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