What a damn market! ~ bitcoin:native 64.5K keeps rubbing back and forth. On the surface it looks calm, but in reality the existing profit-taking positions and newly added hot money are piling up—this kind of structure is most afraid of an unexpected spark.



glassnode This week’s report points out several noteworthy signals: on-chain profitability remains strong; the derivatives market hasn’t gotten overheated yet; but at the same time, newly added speculative capital and increasing sell-side pressure are both rising, causing the market to become increasingly sensitive to volatility.
BTC-1.07%
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