According to data, although the price of BTC once broke through $69,500, profitable investors did not leave the market in large numbers as we expected. The turnover rate of investors with a holding cost below $60,000 in the last 24 hours accounted for only 13% of the total flow, and this proportion has been in the range of $65,000 to $68,000 for some time. This suggests that after a period of washing, early investors have become more reluctant to throw their chips easily.
Although the $69,000 position does not seem to have caused much market volatility over the weekend, we cannot be sure whether US institutions and investors will accept this price after Monday. After all, liquidity is relatively low on weekends, and a small amount of funds can have an impact on the market. Further observation is needed to determine whether this price can remain stable during weekdays.
The situation is similar for investors who are losing money. Investors with a holding cost of more than $70,000 are leaving the market in smaller numbers. This is because there are not many BTCs at this price level, with a total of only 470,000. In contrast, there are 1.673 million BTCs between $65,000 and $69,000, which is second only to the 2.094 million BTCs between $26,000 and $30,000. This means that this position has become a relatively solid support point. Unless there is a major accident or the US economy collapses, it will be difficult for these investors to force them to sell their chips by dumping the market. More and more investors are beginning to hold BTC in this price range. #Meme #WIF #SHIB
