Fewer and fewer Bitcoins – can „liquidity crisis“ push BTC price?

There are fewer and fewer Bitcoins – but can the „liquidity crisis“ push the BTC price?

  • The Bitcoin rally was characterised by strong accumulation by long-term holders.
  • The number of BTC on exchanges has fallen sharply in recent months, despite the rally.
  • Analysts believe this is due to institutional participants buying bitcoin for longs.
  • These investments are expected to drive BTC up over time as the supply of coins in the market decreases.

Bitcoin supply crisis begins as masses of coins are withdrawn from exchanges

Analysts believe Bitcoin is in the midst of a supply crisis as BTC pushes to new all-time highs. With part of the recent rally largely driven by derivatives buyers, it is clear that a large amount of BTC is being amassed through spot exchanges.

Rafael Schultze Kraft, CTO of Glassnode, shared the chart below on 21 December. It shows the price of BTC and the supply Bitcoin Billionaire of bitcoin on exchanges over a macro time frame.

As you can see, the amount of bitcoin on exchanges has fallen sharply since the local highs during the February rally to $10,500. Schultze Kraft and others see this as a sign that bitcoin is in the midst of a supply and liquidity crisis, which should drive prices higher over time:

„#Bitcoin is in a supply and liquidity crisis. This is extremely bullish! And severely underestimated. I believe this will be clearly reflected in the bitcoin price in the coming months. Let’s take a look at the data.“

Chart of the price evolution of BTC over the last decade with an on-chain analysis of BTC on exchanges by Rafael Schutlze Kraft, CTO of Glassnode, Chart by Glassnode.

Buying pressure from institutions

The driving force behind this decline of Bitcoin on exchanges are institutional players, as some evidence suggests.

Just recently, for example, MicroStrategy confirmed that it had bought 30,000 Bitcoins:

„TYSONS CORNER, Va.-(BUSINESS WIRE)-Dec. 21, 2020- MicroStrategy® Incorporated (Nasdaq: MSTR) (the „Company“), the largest independent publicly traded business intelligence company, today announced that it has purchased an additional approximately 29,646 Bitcoins for approximately $650.0 million in cash, at an average price of approximately $21,925 per Bitcoin, including fees and expenses.“

This is in addition to the 40,000 Bitcoin the company has already bought in recent months. And MicroStrategy is just one of many companies currently buying the leading cryptocurrency.

Just last week, US life insurance company MassMutual confirmed that it had bought $100 million worth of BTC. The company was joined by other life insurers, though the names of these companies were not disclosed.

Cardano-prisanalyse: ADA trækker sig tilbage fra 2020-højder med 7% ugentlig tilbagegang, hvad er der næste?

ADA oplevede et lille prisfald på 2,5% i dag, da mønten faldt fra 0,17 $ til at ramme 0,157 $. Mod Bitcoin faldt den til 830 SAT i dag.

ADA / USD – Cardano falder lidt fra 2020-højderne.

Nøglesupportniveauer: $ 0.155, $ 0.146, $ 0.14.

Nøgle modstandsniveauer: $ 0.161, $ 0.17, $ 0.181.

ADA sendte et nyt 2020-høj i november, da det steg til niveauet 0,181 $. Derfra faldt det lavere for at finde supporten omkring $ 0.135 (.5 Fib). Det steg igen i slutningen af ​​november og formåede at lukke et dagligt lys over $ 0,17 i går.

ADA faldt under $ 0,15 i går for at nå så lavt som $ 0,135. Det er siden kommet igen, og tyrerne kæmper nu for at holde sig over juli 2020-højderne.

ADA-USD Kortsigtet prisforudsigelse

Ser man fremad, hvis tyrerne fortsætter opad herfra, ligger det første modstandsniveau på $ 0.161 (bearish .382 Fib). Dette efterfølges af $ 0,17, $ 0,181, $ 0,191 og $ 0,2.

På den anden side, hvis sælgerne bryder støtten til $ 0,155, findes yderligere support til $ 0,146 (.382 Fib), $ 0,14, $ 0,135 (.5 Fib) og $ 0,123 (.618 Fib).

Den daglige RSI handler tæt på mellemniveauet for at indikere ubeslutsomhed inden for markedet, da bullish momentum falmer.

ADA / BTC – Bulls undlader ikke at bryde 980 SAT-modstand og falde til 830 SAT.

Nøglesupportniveauer: 787 SAT, 740 SAT, 700 SAT.

Nøgle modstandsniveauer: 881 SAT, 900 SAT, 980 SAT.

Mod Bitcoin Bank formåede Cardano at stige ind i 980 SAT-modstanden (bearish .382 Fib Retracement) mod slutningen af ​​november efter at have kommet sig tilbage fra 580 SAT tidligere på måneden.

Det var ude af stand til at overvinde 980 SAT og faldt lavere de sidste fire dage som et resultat. Det handles nu til 830 SAT.

ADA-BTC kortsigtet prisforudsigelse

Ser vi fremad, hvis sælgerne fortsætter, forventes support 787 SAT (.5 Fib), 740 SAT (.618 Fib og 700 SAT.

På den anden side ligger modstanden på 881 SAT, 900 SAT og 980 SAT (bearish .382 Fib). Dette efterfølges af 1050 SAT og 1100 SAT.

RSI er også vendt tilbage til midtlinjen, da ubeslutsomhed væver inden for markedet. Derudover er Stochastic RSI primet til en bearish crossover under overkøbte forhold.

„Bitcoin gaat onder $10.000“ – CryptoWhale Waarschuwingen

De consistente crypto-marktcriticus ‚CryptoWhale‘ heeft expliciet gewaarschuwd dat de bitcoin momenteel oververkocht is en onvermijdelijk onder het niveau van $10.000 zal terugtrekken.

De gerenommeerde analist en handelaar tweeted dat ondanks Bitcoin’s lopende rally, de daling massaal zal zijn en de prijzen terug zal drijven naar niveaus die sinds augustus niet meer zijn gezien.

CryptoWhale zei dat zijn opmerkingen een waarschuwing zijn voor mensen die gedreven worden door angst om te missen (FOMO), die Bitcoin Pro kopen aan de top, en hopen dat die bitcoin het $20.000 niveau of hoger zal doorbreken.

„Ik help anderen om niet aan de top in te kopen. Als je denkt dat we de 20K zullen overtreffen, dan moet je er nu helemaal voor gaan.“

BTC Markt wordt gedreven door de vluchtige staat van Extreme Hebzucht en Angst

CryptoWhale voegde eraan toe dat de drastische beweging van de Bitcoin-prijs in beide richtingen zeer waarschijnlijk te wijten is aan de volatiliteit van de crypto-markt.

De koopdruk stijgt en daalt net zo snel als de verkoopdruk met grote prijsverschillen daartussen. Daarom worden de meeste mensen gedreven door FOMO, elke lichte terugtrekking zou een uitverkoop kunnen uitlokken.

Ter ondersteuning van dit sentiment blijkt uit gegevens van Crypto Fear and Greed Index analysis site Alternative dat de markt sinds vorige week in een status van extreme hebzucht verkeert. Door het zeer volatiele karakter van de crypto-markt drijft de angst om te missen (FOMO) mensen tot een verhoogde koopdruk. Het tegenovergestelde veroorzaakt irrationele angst wanneer mensen de verkoopdruk verhogen zodra de prijzen van de munten beginnen te wijzen op rode cijfers.

Bij extreme hebzucht betekent de index dat de markt een correctie moet ondergaan. Andere analisten hebben echter betoogd dat de markt weliswaar een terugval kan ervaren, maar dat dit niet zo erg is als CryptoWhale had voorspeld.

In feite, en in het licht van het recente niveau opwaartse retracement, zeggen analisten dat Bitcoin meer kans heeft om $18-20k te bereiken voordat het zich terugtrekt naar $12K als het laagst mogelijke niveau.

Bitcoin blijft stijgen

Ondanks de prijsreducties op korte termijn, zei Senior Commodity Strategist bij Bloomberg Intelligence Mike McGlone dat Bitcoin zich op een prijs-ontdekkingspad bevindt en kan blijven stijgen tot 2021, als gevolg van de toenemende mainstream adoptie.

„$20.000 #Bitcoin is Primary Hurdle Toward $1 Trillion Market Cap. De digitale versie van goud, maar met een meer beperkt aanbod en een geschiedenis van het toevoegen van nullen, lijkt in een vroeg prijs-ontdekkingsstadium te zijn en kan eenvoudigweg blijven stijgen in 2021. Mainstream adoptie neemt toe.“

Bitcoin repeatedly fails at its all-time high – which is now worrying analysts

Bitcoin has struggled to get past the mid to upper $ 19,000 region in the past few days and weeks as the pressure to sell is significant here.

As long as the bulls fail to crush the resistance region, which starts at $ 19,400, we may see a longer period of consolidation

However, the last weekly closing price of the cryptocurrency was incredibly bullish and happened to mark the highest closing price ever recorded by the cryptocurrency on many exchanges.

This could improve Bitcoin’s medium-term outlook, but there are still some pessimistic factors that counter this.

Until The News Spy can leverage this macro-strength to break above $ 19,400 and then above $ 19,800, it could see sustained sideways trading.

Bitcoin and the entire crypto market have been affected by a longer consolidation phase in the last few days and weeks.

The aggregated crypto market has struggled to gain momentum. This can largely be attributed to the benchmark cryptocurrency being unable to break its pre-determined all-time highs.

Overall market development in the medium term will likely depend on whether BTC can set new highs or not.

As one trader notes, it is very likely that we have serious upside potential as the strength of the last week’s close in cryptocurrency can do a lot to add some momentum to the market.

Bitcoin consolidates above key level of $ 19,000

Bitcoin is currently consolidating below $ 19,000 in the region. The asset has been trading in this region for the past few days and weeks.

Selling pressure seen at $ 19,400 has prevented an upward move in recent days, with this being the first major resistance for Bitcoin ahead of the $ 19,800 to $ 20,000 region.

Trader: Bitcoin’s macro outlook strong after the week’s close

Bitcoin saw the highest weekly candle close ever yesterday, which means that serious upside for the cryptocurrency could be imminent.

One analyst wrote about it in a tweet, stating that the development has undoubtedly improved Bitcoin’s prospects:

“BTC: Had an all-time high weekly closing at Bitstamp this weekend. It looks like Coinbase closed right below the 2017 week ATH. So close to $ 20,000 + „

Bitcoin está prestes a colocar a vela mensal mais alta de todos os tempos como o rugido dos touros

Bitcoin está atualmente preso a uma intensa tendência de subida, sendo os ursos incapazes de retardar sua ascensão

A força desta tendência de alta tem sido bastante intensa, e parece indicar que um aumento significativo pode ser iminente.
A região mais baixa e média de 19.000 dólares mantém alguma resistência intensa para a moeda criptográfica, e outra rejeição aqui poderia dar um duro golpe nos touros.
Dito isto, a força macro vista pela BTC indica que um movimento para além deste preço surgirá a curto prazo.
Um comerciante está observando que Bitcoin está prestes a postar a vela mensal mais alta que já viu
Esta é uma evolução incrivelmente alta que parece indicar que o lado positivo é iminente

Bitcoin e todo o mercado de criptogramas foram apanhados em meio a uma intensa recuperação nos últimos dias, com a recente selagem provando ser altamente fugaz.

A forte resposta do mercado a este intenso declínio indica que algum lado positivo grave pode ser iminente nos dias e semanas que se avizinham.

Qualquer extensão deste impulso poderia resultar em que a moeda criptográfica veja novos altos de todos os tempos.
Bitcoin Mostra Sinais de Força à medida que se movimenta para re-testar os Altos de Todos os Tempos

No final da semana passada, a Bitcoin se reuniu na região de meados de 19.000 dólares antes de enfrentar uma rejeição firme que fez com que seu preço baixasse significativamente.

A pressão de venda vista aqui tem sido intensa, e ainda não está claro se os touros têm ou não força suficiente no momento atual para quebrar acima deste nível.

Se a BTC conseguir quebrar acima de seus máximos anteriores, provavelmente entrará no modo de descoberta de preços e ampliará sua tendência atual de alta parabólica.

Uma nova rejeição aqui, entretanto, poderia significar que uma fase prolongada de consolidação está iminente.
A BTC está prestes a ver a vela mensal mais alta fechar de todos os tempos

Supondo que a Bitcoin permaneça tecnicamente forte e não enfrente nenhuma selloff dura no próximo dia, a moeda criptográfica está pronta para postar sua vela mensal mais alta de sempre.

Como observou um analista:

„BTC / USD“: Este será o fechamento mensal mais alto de todos os tempos, a vela mensal está atualmente +35% acima do fechamento anterior da ATH. Eu esperaria que qualquer coisa abaixo de 16.500 dólares fosse comprada de forma extremamente agressiva, em qualquer coisa abaixo de 1W“.

Bitcoin

De um macro-perspectivo, este é um sinal incrivelmente alto, pois indica que a perspectiva de longo prazo da moeda criptográfica – assim como sua perspectiva de curto prazo – é alta.