Re: Bitcoin is moving from long-term holders into new addresses managed by ETFs
That's bullish!
Just think about it. People who held bitcoin since the last bull market were normal dudes who need stuff. They get married, want to pay for children's education, move to a new house.
These were potentially unstable holders. People who were going to sell anyway at some point. Maybe at 120k, maybe 130k, but these coins were going back to the market and soon.
People who are buying in bulk right now at $110k aren't going to sell it at the same price or lower. Institutions are planning to hold for the next 2 years or more and if the price crashes to 99k they aren't going to panic sell. At least most of them
This raises the floor price, brings more stability to the market, protects us from another -80% bear market. Remember how we went sub $20k just 3 years ago? We're never going back there thanks to this $100k redistribution.
Just think about it. People who held bitcoin since the last bull market were normal dudes who need stuff. They get married, want to pay for children's education, move to a new house.
These were potentially unstable holders. People who were going to sell anyway at some point. Maybe at 120k, maybe 130k, but these coins were going back to the market and soon.
People who are buying in bulk right now at $110k aren't going to sell it at the same price or lower. Institutions are planning to hold for the next 2 years or more and if the price crashes to 99k they aren't going to panic sell. At least most of them
This raises the floor price, brings more stability to the market, protects us from another -80% bear market. Remember how we went sub $20k just 3 years ago? We're never going back there thanks to this $100k redistribution.