During Bitcoin\u2019s 2017 $20k parabolic top, the market gave us just 12 full trading days to sell above $15k before sellers took control.This week in CryptoThis previous week has been characterized by more sideways consolidation of Bitcoin, which has the distinctive feel of re-accumulation by investors as dips have been bought up quickly and on-chain metrics support this thesis by showing that prices are well supported at these close to all-time-high levels. Roughly 12% of all Bitcoin supply has now moved whilst Bitcoin has maintained a market capitalization of over $1trillion, representing a movement between buyers and sellers of BTC around the ~$54k price mark (source: Glassnode + @woonomic). It is also noteworthy that BTC has held above the hugely significant price level of $50k for over 36 days now, not a trend that that typically signifies a market (blow off) top when traders and investors are given very little time and liquidity to sell the actual top. As a comparison, during the 2017 $20k parabolic top, the market gave us just 12 full trading days to sell above $15k before sellers took control and we started the painful bear market into crypto winter.Combined with the continued trend of a net outflow of coins from all exchanges and into cold storage, all the signs are there that these past 6 weeks or so are just a pause in the current bull market. It certainly feels that another leg up is due once this latest phase of accumulation has played out. The first chart below (courtesy of Glassnode via @cryptoquant) shows this continuing trend of BTC leaving exchanges and reducing the physical BTC free float available for investors to buy and market makers to trade. If the popular market consensus is that BTC price should top out towards the end of\u2026<\/p>","protected":false},"excerpt":{"rendered":"
Durante el tope parab\u00f3lico $20k de Bitcoin de 2017, el mercado nos dio solo 12 d\u00edas comerciales completos para vender por encima de $15k antes de que los vendedores tomaran el control. [\u2026]<\/span><\/p>","protected":false},"author":0,"featured_media":2796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/posts\/4241"}],"collection":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/comments?post=4241"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/posts\/4241\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/media?parent=4241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/categories?post=4241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/tags?post=4241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}