Bitwise advisor: The current market structure is unfavorable for Bitcoin's rise, and Bitcoin OG whales are still continuously selling
BlockBeats News, December 14, Bitwise advisor Jeff Park posted that "the current market structure is fundamentally not conducive to a substantial price increase for bitcoin. The reason is that, on one hand, bitcoin OG holders are still continuously selling, while on the other hand, demand from ETF and DAT is simultaneously slowing down."
Meanwhile, Jeff Park emphasized that for bitcoin to break out, it must return to a significantly higher level of implied volatility in a sustained manner, especially upward volatility. In November, I once said 'volatility or death,' and shared the first abnormal breakout signal at that time, finally seeing volatility start to rebound, which reignited some hope. Unfortunately, over the past two weeks, implied volatility has once again been comprehensively suppressed. From a high of 63% in late November, it has now fallen back to 44%."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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