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Regulatory pressure lowers prices but whales re-stock and activity increases, plus Market Intel launchesJune 30, 2021
- Cryptocurrency prices fall as regulatory pressure, particularly from China, spooks the market and leads to at least 50k bitcoin outflows from Chinese-related exchanges. However, the consequences of such pressure are likely to be on long-term demand rather than immediate changes in liquidity.
- Prices below major levels, of $30k for bitcoin and $2k for Ethereum, seem to have incentivised an increase in activity, with the number of transfers and active users rising recently. Investor whales have also acquired at low prices, adding 42k bitcoin to their holdings since mid-June. This appears to have taken prices back above those levels.
- Data subscriptions for Market Intel launch! Now you can access the data behind the Market Intel Report for your research and investment decisions. Email me at email@example.com to learn more.