The data on the exchange's BTC inventory, especially when the price of $BTC drops, often leads to an increase in investor panic, which in turn drives more BTC to be prepared for or already sold on the exchange. Therefore, changes in the exchange's BTC inventory can provide a more intuitive analysis of the market pressure.
From the current data, although there has indeed been an increase in BTC inventory over the past two days, the increase is not significant. There are only about 4,000 coins remaining on the exchange, and most of them were generated in the last 24 hours. In fact, during the price drop over the past two days, the exchange's inventory not only did not increase but has also shown a continuous decreasing trend. This indicates that even though there are signs of increased selling, investor buying sentiment remains quite strong. Therefore, unless there is a systemic risk, the likelihood of breaking support is not high.
This article is sponsored by #Bitget | @Bitget_zh
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