00:00Bitcoin right now lower by almost two percent at one hundred and three thousand dollars apiece. And of course, it's still trading below its 200 day moving average as well. The long term trend line here. It's really struggled to maintain momentum and stage a recovery from that mass liquidation event on October 10th. What do you see when it comes to sentiment on not just Bitcoin, but the crypto space?
00:22That's that liquidation is the largest in crypto history in terms of a single day liquidation. And after that, I saw lots of altcoins losing momentum. Probably this has been going on for a while already. This is just the liquidation is just making it more magnified.
00:40For example, many exchange platforms have seen about 20 to 30 percent decrease in terms of a weekly trading volume. And then in terms of the larger cryptocurrencies, I think there are still quite good trading volume.
00:58But Bitcoin price has been, you know, going down a little bit, touching 70, sorry, 97 K, which is a very strong supporting point today. It's or a few days ago, it's it's about this level has been quite steady since then.
01:17I actually just tweeted something yesterday saying that because what we see right now in terms of Bitcoin price is actually the pricing power.
01:29Well, we talked about it, you know, ETF inflow, institutional influence is the is the is a key part. Wall Street is pricing Bitcoin price.
01:38But it's also worth noticing it's primarily driven by the liquidity within the United States, not without, not outside of the US.
Be the first to comment