CryptoSoulz
CryptoSoulz

@SoulzBTC

9 تغريدة 2 قراءة Aug 11, 2024
In this THREAD I will analyze $BTC
1. German Government Selling
2. $ETH ETF
3. $BTC holders accumulating
4. Selling pressure in $BTC
5. Bitcoin Analysis
Full analysis of #Bitcoin in July 🧵👇
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1. German Government Selling
German Government has just about 5K $BTC left now.
This is the data from the SELLING of the German Government last month.
June 17: 49,878 $BTC
June 24: 47,178 $BTC
July 1: 44,691
July 8: 27,460
Today: 4925 $BTC
1.1 German Government Selling
So far, more than half of their $BTC, over 25,000, has already been sold through several CEXs:
- Kraken
- Coinbase
- Bitstamp
The market's reaction to this news, is much more emotional than the news itself.
2. $ETH ETF
All spot #Ethereum ETF applicants have filed updated S-1's.
40% of #Ethereum's supply is basically locked up and 28% staked.
The institutional interest for $ETH ETF is set to rise.
2.1 $ETH ETF
The spot Ethereum ETFs will unlock $9B worth of $ETH
These are funds that Grayscale holds in its Ethereum Trust.
The ETH ETFs launch is bullish in the mid-long term.
3. $BTC Holders Accumulating
Long-term holders have already bought up more than 85,000 $BTC in the last 30 days.
This is a BULLISH catalyst for the price, since the Long-term holders keep accumulating.
4. Selling pressure in $BTC
After the entry of old Bitcoins wallets, there was a drop in Bitcoin.
Since their quantities are small, this selling pressure cannot last long.
Price should recover shortly after the initial impact.
5. $BTC Analysis
$BTC is currently in SUPPORT in HTF.
I expect a bounce here, after all this BEARISH news.
If $BTC loses $54,000 then $49,500 is next.
I'm targetting $62,000 from here.

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