At the time of writing bitcoin has found a steady level at $13k. It seems the euphoria is just beginning as fundamentals remain strong and short-term holders are getting out of the way. Corporations are now having meeting so that they may determine if bitcoin is right for them. We saw what retail investors did in 2017, now it\u2019s time to see what institutional investors can do in 2021.Profit-TakersBitcoin continues to shrug off increased selling pressure from profit-takers for the time being. According to Chainalysis, a total of 106,519 bitcoin was received by crypto exchanges on Wednesday. The pickup in exchange inflows can be a concern to bulls because it indicates that investors are rushing to take profits. What\u2019s good for us is that bitcoin\u2019s trade intensity has jumped to a 2-month high of 5.8. This is more than 2x of the 90-day average.Bitcoin trade intensity, Source: ChainalysisTrade intensity is a measurement of how any time an in-flowing coin is traded. Put simply, each of the 106k bitcoin sent to the exchanges was traded on average 5.8 times. With this, we can assume that the market had the capacity to absorb the selling pressure imposed on by the sellers.PullbackAlthough the mid-term outlook is positive, we have to expect a correction in the short-term. Where that fundamental support will be is anyone\u2019s guess. A surge of 26% within 13-days is unsustainable, no matter how good the news is. What really sent bitcoin flying was the transfer in wealth from altcoins to bitcoin. Now all eyes are on bitcoin as the majority of bitcoin holders are in profit.As we approach $13k, we must be cautious about the $14k resistance level we\u2019ve had since mid-2019. In June 2019, when bitcoin hit $13,970, it quickly pulled back to $10.5k and then again to $9.2k\u2026<\/p>","protected":false},"excerpt":{"rendered":"
At the time of writing bitcoin has found a steady level at $13k. It seems the euphoria is just beginning as fundamentals remain strong and short-term [\u2026]<\/span><\/p>","protected":false},"author":0,"featured_media":2528,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/posts\/2527"}],"collection":[{"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/comments?post=2527"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/posts\/2527\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/media\/2528"}],"wp:attachment":[{"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/media?parent=2527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/categories?post=2527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/tags?post=2527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}