Phyrex
Phyrex|Jul 11, 2025 18:02
The homework of the past two days is a little boring. It is not because prices have broken new highs, but there is no movement in the market. Although prices have risen well, there has been no actual progress in both the macro market and Trump's tariff policy. Even the so-called China's development of stable currency and RWA are still not glimpsed. So the market has not been continuously stimulated by good news, and the reasons for the rise were also analyzed yesterday. It's not because of a significant increase in purchasing power, but because there are too few investors willing to sell. Most investors are in a state of reluctance to sell, and the actual BTC involved in turnover is still very low. Most investors choose to hold the coin. From the data of long-term holders who have held the position for more than 155 days, it can be seen that even though the price of Bitcoin has repeatedly hit new highs, long-term holders are still at a high level. Based on the exchange data we saw yesterday, it can be seen that long-term holders are unwilling to sell, and the stock on the exchange continues to decline. This indicates that most investors are in a buying or wait-and-see state, which is the main reason for the rise in Bitcoin prices. Of course, the purchase volume of spot ETFs also reached a high point yesterday, but it is uncertain how long it can last. Not only in the spot market, but also in BTC's perpetual contracts. From a data perspective, although BTC's price has reached a new high, the number of contracts that have not been leveled has not increased significantly, but is still fluctuating at a lower level. Compared to the end of 2024, it can be clearly seen that as BTC prices rise, the number of contracts that have not been leveled continues to rise, indicating a strong market sentiment. And now the price has reached a new high, but the contract is still at a low level, indicating that the number of investors willing to play BTC contracts is still relatively low. To put it simply, most investors do not have a clear direction choice. Today continues to reach a new high, so the URPD data still needs to wait, it depends on the weekend for two days. But I have a look at the support position. It is still not damaged. Continue to follow Trump's tariff policy.
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