BTC

According to PANews on October 19th, the latest analysis by CryptoQuant indicates that although Bitcoin has some support, the recovery process is uneven. Firstly, in terms of exchange reserves, it rose from approximately 2.67 million BTC in early October to approximately 2.68 million BTC, still far below the level in January. Low reserves do not mean a continuous contraction in supply, transfers or changes in custody, and the increase itself does not prove selling. Secondly, the recovery of spot demand has been hindered. The 30-day spot demand once approached zero and then turned negative again. The perpetual contract demand was positive, supporting the overall demand. Finally, the behavior of major whales was differentiated. Addresses holding 100–1,000 BTC still accumulated netly over the past 60 days, but were below the peak in September; the group holding 1,000–10,000 BTC net decreased to nearly zero; the group with over 10,000 BTC was negative. Accumulation was not fully launched. What are your thoughts, experts? Regarding this report, do you have any opinions? submitted by /u/Wooden_Bear94 [link] [comments]

from Bitcoin - The Currency of the Internet https://ift.tt/QgK8tr9