To interpret the sharp reserve increase in January and the price crash in February, we understand that the most critical break in the chart is here. While miner reserves increased strongly, we immediately saw the price #bitcoin sharply decline to the 70K range. This type of structure generally confirms an accumulation of supply ready for sale.
In the current chart, #Bitcoin is showing weak consolidation around 71K, while miner reserves are still at high levels. This indicates that potential supply pressure has not been completely cleared. If reserve increase occurs with price weakness, the risk of selling continues. Although reserve increase seems to have stopped here, it is still quite high.
Especially during these geopolitically risky times, a liquidity squeeze in the market could initially lead to a flight from risky assets, and then to strong demand for cash and the dollar. If the war continues, in the short term, institutional investors may switch to a monitoring mode, miners may increase their selling tendency for safe cash flow, and high reserve levels may put pressure on prices. In this case, liquidity tests below 70K would not be surprising.
However, we know from past periods that in the medium to long term, if the war increases energy costs and mining costs, after a certain level, instead of selling, a supply restriction may be seen. This would increase risky assets in the medium term. Because small investors and whales can most easily transport their money through cryptocurrencies during international travel. In short, although the increase in reserves may cause a decline in the short term, this situation may turn positive in the medium to long term. $BTC
Ethereum is in an accumulation zone. The price is stuck between $2118 and $1764. There's a battle between buyers and sellers, and there's no clear winner yet.
$ETH is currently in a downtrend and near the mid-trend resistance. Therefore, considering securities like #bitcoin and #GOLD I don't think this resistance will be broken in the short term. $1350 stands out as a potential support level.
FOGOは、そのコミュニティ主導のビジョンとWeb3エコシステム内での革新的なポジショニングで注目を集めている新興トークンです。ユーティリティと強力なトークノミクスを組み合わせるように設計されており、FOGOは短期的なハイプではなく持続可能な価値を創造することを目指しています。そのロードマップはスケーラビリティ、戦略的パートナーシップ、エコシステムの拡大に焦点を当てており、積極的なコミュニティ参加を奨励しています。 投資家やビルダーからの関心が高まる中、FOGOは単なる投機的資産以上のものであり、分散型所有権と透明な成長モデルに向けたより広いムーブメントを反映しています。常に、初期段階の暗号プロジェクトを探求する際には、徹底的な調査とリスク管理が不可欠です。#fogo $FOGO @Fogo Official