Reported about 1 year ago
A recent shift in the Bitcoin market has shown a significant change as analysis reveals a large amount of Bitcoin, approximately 67.5 billion NTD, has been withdrawn from exchanges in the past month. Observations suggest a change in market leadership with institutional investors from Wall Street taking over, leading to a more stable bull market with decreased weekend trading volume. This shift is attributed to the withdrawal of significant amounts of Bitcoin, surpassing the supply and potentially pushing prices towards $83,000 in the short term. The introduction of Bitcoin spot ETF has become a focal point, with experts noting the transition of market control from 2017 to elite Wall Street investors, highlighting a structural change in the market and the potential for reduced activity in weekend trading by retail investors.
Source: YAHOO