Bitcoin

when

After a boring week of decline, Bitfinex analysts have made an updated analysis of the reasons for the decline in Bitcoin.
Speaking to The Block, Bitfinex analysts said that market liquidity decreased due to fewer institutional investors buying during the summer holidays.
According to analysts, decreased activity on the part of institutional investors has further increased Bitcoin (BTC) selling pressure.
At this point, Bitfinex analysts cited the decrease in corporate purchases during the holiday period as the reason for the price decline in Bitcoin, and also stated that long-term investors were also selling profits in Bitcoin, and when combined with other negative factors, the sales pressure increased.
<blockquote>
 “The fact that fund managers were on summer vacation increased the selling pressure and this reduced market liquidity.
 Additionally, the data also includes long-term Bitcoin investors (3-4 years), the German government, and Mt. It shows that it is selling due to pressure from Gox sales. “Combined, the BTC price dropped even more.”
</blockquote>
<h2 id="bitcoin-miners-switched-from-selling-to-hodl">Bitcoin Miners Switched from Selling to HODL!</h2>
Apart from Bitfinex analysts, Bitget chief analyst Ryan Lee also made important statements.
Lee, who attributes Bitcoin's recent low performance to factors such as Germany, the USA, and Mt.Gox sales, said that miner sales pressure has decreased.
Stating that miners now tend to keep their Bitcoins instead of selling them, Lee said, “At the current price of Bitcoin, some mining rigs are not profitable. This may change the trading behavior of BTC miners. That is why I think miners are now more inclined to keep their Bitcoins rather than sell them. Conclusion “This reduces potential selling pressure from miners.” said.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/why-is-there-no-reaction-in-bitcoin-bitfinex-analysts-explained-the-interesting-reason/" rel="noopener noreferrer nofollow">Why Is There No Reaction in Bitcoin? Bitfinex Analysts Explained the Interesting Reason!</a>

Why Is There No Reaction in Bitcoin? Bitfinex Analysts Explained the Interesting Reason!

Daftar Isi

Bitcoin Sistemi EN

Artikel lain yang dipublikasikan pada 5 Jul 2024

Taiwan Mobile Acquires Crypto Exchange, Joins VASP Ranks

Battle for Best Presale in July 2024: MoonBag vs. Arweave vs. BlastUP

With Arbitrum (ARB) and Starknet (STRK) hitting all-time lows, will CYBRO weather the downtrend?

AI Progress Drive Meta Shares Up as Firm Outpaces Tech Rivals

German MP urges government to halt BTC sales in lieu of need for ‘strategic reserve’

$100M Bitcoin liquidated as BTC drops: Will ETF investors panic sell?

Bergabunglah dengan buletin gratis kami untuk pembaruan kripto harian!