Bitcoin’s Apparent Demand Turns Negative for 208 Days as Selling Pressure Builds

TLDR: Bitcoin’s apparent demand has stayed negative for 208 consecutive days, dropping to a record low of -273,000 BTC. Old Bitcoin supply is re-entering circulation faster than the spot market can absorb the incoming coins. BTC price was rejected at both $82,000 and $61,000 resistance levels, extending the pattern of lower highs. Analyst Kabuki projects [...]

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