Why Isn't The Bitcoin Price Higher?
I've lost count of the number of folks who seem baffled that the Bitcoin price isn't already $100k, given all this ETF demand. Of course, Bitcoin itself offers us insight into the reasons why.
G’day Folks,
Today I want to address an important topic, and one I continue to see so much confusion about in the wild.
How on earth can we continue to see billion dollar ETF inflows…but number isn’t going up?!
Are they manipulating the price? Is Wall Street suppressing Bitcoin?
This is the perfect problem to attack using onchain data, which tells us an immutable story about how much supply is on the move, locking in profits, and working against the market as overhead resistance.
In this piece, I will show you how I analyse the smart money Long-Term Holders, and will step through how I use their activity to stay level headed in the market.
I think you’re all really going to enjoy this one, and the conclusions I come to might surprise you. I hope this will be a solid reference piece for the future, and lay some important groundwork we will need to navigate the next chapter of the bull market.
Let’s dig in!
📈 Reminder: you can find the charts from our articles on the Checkonchain Charting Website.
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