Bitcoin price is fragile, but data in the chain suggests new accumulation

Bitcoin price is fragile, but data in the chain suggests new accumulation

The May 19 sell-off of the crypto market erased $ 1.2 trillion in value from total market cap as the foam and excess leverage of the overvalued markets were quickly removed.

But similar to a forest fire, the devastating power of which is essential to rejuvenate a forest’s ecosystem, dramatic market shakeouts are an integral part of the entire life cycle of a developing market as accumulated excesses are burned and cleared to pave the way for a new round of growth .

vs. Ether average transaction fee. Source: Glass knotChange in the net position of the long-term owner. Source: Glass knotBitcoin liquid and highly liquid supply. Source: Glass knot

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