It was suggested by Crypto Pundit that Bitcoin Is No More In Danger Zone and it has crossed limits from selling side. There are many speculations related to BTC subsequent to top coin that seem to push above the level of $20k. Also some of the analysts such as Cryptoquant seems to be quite optimistic. However, in the latest tweet, Cryptoquant shares the most interesting opinion related to current status of market about BTC. As per the analysis, there has not been much of the movement about on-chain side for last week.
Bitcoin out from Danger
It was also little explained about what such kind of development might mean for Bitcoin market, even though he also stopped for being absolute. It is also believed that BTC may have also push from sell-side for being at safe side as per his observation. This might also have been contributed through latest and recent price which seems to be always struggling to be above $20k. This signifies some kind of growth resilience along with the potential increase.
There has not seen any kind of crucial on-chain activities of Bitcoin for last few days. No one knows what is the future but definitely the market of BTC is safe from liquidity sell-side till the time the on-chain is silent. Also, there has not been any crucial activities seen since last few days.
There has not been much of the upside on balance of Bitcoin Exchange with beginning of July. Thereby, reducing risk of the strong selling. The data demonstrate that Bitcoin balances decreases regularly. As per the chart offered by influencer of crypto, usually 150K BTC left the exchanges. This has record for highest outflow of BTC. On the other hand, Cryptoquant is quite optimistic and not sure about future. This is quite understandable because crypto market is said to become volatile.
