$BTC this morning BTC has decreased to around 103k
👉 since the beginning of June, the demand for buying has been gradually decreasing, which means the buying power has also temporarily weakened, clearly shown by the fluctuating prices over the past 2 weeks.
👉 According to data from Quant: BTC is currently trading higher than the average buying price of 91.5K by nearly 20%, which can be understood that short-term traders have made significant profits, so it is understandable that they take profits.
Conclusion for everyone:
- After reaching 110k, BTC has continuously faced selling pressure, and for the past 2 weeks, everyone can see the struggling fluctuations around the levels of 105k, 106k (these levels seem to be quite strong resistance for the increase). . . this morning BTC has been pushed down to around 103k, which is also understandable.. if the buying power does not return, and the global news remains negative affecting the players' psychology, then it could return to 100k, which is normal.. even 99k, 98k.
- Yesterday's movement shows that accumulation has been going on for a long time, MM has to kill one of the two sides. The trend remains the same 🍀🍀
