Market Intelligence 8
* Weekend sell-off driven by liquidations in the futures market
* Long-term holders continue holding as Short-term holders realized large
losses
* Whales bought the dip
Bitcoin
Weekly
Market Analysis
$5.4bn worth of Bitcoin Derivatives Liquidated
* Bitcoin Price significantly dropped from $57k to $42k within an hour
* Prices have stabilised between a range of $47k to $49k
* Spot selling triggered long
Market Intelligence 7
Bitcoin
Weekly Price Action
* After increasing to $59k levels, prices suddenly dropped by 8% after news
broke out of the new Omicron Covid variant
* Prices
Swing Traders Are Driving the Bitcoin Market
* The majority of the Bitcoin supply is stored off-exchange
* The investors controlling this supply are not selling
* Price action is primairly influenced by swing traders
Market Intelligence 6
* On-Chain Macro structure is still bullish
* Short-term correction extended to $55k level
* Micro indicators point to downtrend reversal soon
Bitcoin
Weekly Price Action
* Price suffered