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Bitwise Advisor: Current Market Structure Not Favorable for Bitcoin Rally, Bitcoin OG Whales Continuously Selling
Summary: Bitwise advisor Jeff Park stated that the current market structure fundamentally does not support a substantial price increase for Bitcoin. This is due to Bitcoin OG holders continuing to sell, while demand from ETFs and DAT is slowing down. Park emphasized that for Bitcoin to rally, it must sustainably return to significantly higher levels of ...
Bitwise advisor Jeff Park stated that the current market structure fundamentally does not support a substantial price increase for Bitcoin. This is due to Bitcoin OG holders continuing to sell, while demand from ETFs and DAT is slowing down. Park emphasized that for Bitcoin to rally, it must sustainably return to significantly higher levels of implied volatility, especially on the upside. Despite a recent uptick in volatility, it has once again been suppressed in the past two weeks, dropping from a peak of 63% in late November to 44%.
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Link: Bitwise Advisor: Current Market Structure Not Favorable for Bitcoin Rally, Bitcoin OG Whales Continuously Selling [Copy]
