“Considering that the exchange order book shows 5-10 bitcoins of liquidity for every $100 price change, a sell-off of 1,000 bitcoins is highly likely to trigger a significant price drop,” Bradley Park, an analyst at CryptoQuant, told CoinDesk in an interview. “Especially when traders are waiting to enter a short against bitcoin’s all-time high like on Tuesday.”
No one has cash to “buy the dip” but $7.7T could rotate into Bitcoin if prices stay beaten down
I came across some analysis this morning that cut through the usual stream of charts and market takes with a...
