$90M Daily? What Would It Mean to Sustain Bitcoin Price at $100,000


According to options trader Theta Seek, for the price of Bitcoin to remain stable at that price point, investors need to invest $90 million in BTC every day. Given that miners typically sell what they mine on a regular basis, the assumption that the selling pressure on Bitcoin may reach $90 million when BTC hits $100,000 is reasonable.

The trader said: The trader added that hodlers—a term used to describe long time Bitcoin holders—have not sold throughout the past three all-time highs of BTC, noting: Market data from Glassnode similarly suggests hodlers have been consistently accumulating Bitcoin ever since the price of BTC flash-crashed to $3,600. In other words, the perception of Bitcoin as an established store of value has to increase and institutional, retail, futures and options market activity will have to reach new levels.

Read in Full: cointelegraph.com

More News