Preface:
There are three main reasons for concern:
1) Since BTC hit a record high in February and consolidated at a high level, miners’ reserves have been falling off a cliff in the past few months.
2) BTC-ETF outflows began to significantly exceed inflows
3) The wave of speculation in both BRC-20 tokens and runes is fading away.
There are three main reasons for this joy:
1) Even if Bitcoin is affected by the Fed's interest rate cut decision in the short term, the current macro cycle is still in the upward stage.
2) After the output is halved, the average production cost of BTC has risen to about 60,000 U.S. dollars, and institutional miners will not sell it easily.
3) After the supply of long-term Bitcoin holders experienced risk selling at a high of 70,000, the price of the pie has now returned to around 60,000. This price is currently in a relatively low-risk area for long-term holders.
In short, the pie is generally a mixed bag, and there may be surprises when you wait for the harvest this week! ! $BTC #
