e28315122 pfp

e28315122

@e28315122

149 Following
151 Followers
e28315122 pfp
e28315122
@e28315122
He has been a staunch advocate of digital assets and innovation, speaking out against the Gensler-led SEC’s “regulation-by-enforcement” approach to the crypto industry on several occasions.
0 reply
1 recast
2 reactions
e28315122 pfp
e28315122
@e28315122
Since 2017, Atkins has served as the co-chair of the Token Alliance, a crypto lobbying group for the Chamber of Digital Commerce which aims to introduce clear regulations and promote mainstream adoption of crypto assets.
0 reply
1 recast
2 reactions
e28315122 pfp
e28315122
@e28315122
Speaking on a podcast in 2023, Atkins said the only reason the FTX crisis became an “international debacle” was because the US didn’t make clear enough rules to accommodate digital assets. However, he conceded that Bankman-Fried’s fraudulent activities were the primary cause of the collapse.
0 reply
1 recast
1 reaction
e28315122 pfp
e28315122
@e28315122
Simply put, Bitcoin’s upward momentum is weakening, which typically precedes a price correction such as the one happening today.
0 reply
2 recasts
18 reactions
e28315122 pfp
e28315122
@e28315122
First, the drop follows a growing bearish divergence between BTC’s rising prices and declining relative strength index (RSI) on the daily chart.
0 reply
2 recasts
16 reactions
e28315122 pfp
e28315122
@e28315122
Bitcoin’s price drop in the last 24 hours has appeared further due to weakening technicals.
0 reply
2 recasts
15 reactions
e28315122 pfp
e28315122
@e28315122
In some cases, however, a higher P/L ratio results in capital rotation, where selling pressure from profit-takers is absorbed by retail investors during bullish phases, akin to what happened during the 2020-2021 bull run.
0 reply
2 recasts
16 reactions
e28315122 pfp
e28315122
@e28315122
Bitcoin's ongoing price correction coincides with elevated daily relative profit/loss (P/L) ratio levels. The on-chain metric recently matched its all-time high from March 2024, a level previously observed when Bitcoin peaked at $73,400 in Q1 2024.
0 reply
2 recasts
16 reactions
e28315122 pfp
e28315122
@e28315122
“These 6-12 month holdings largely consist of Bitcoins accumulated during the extended consolidation period from March to October this year,” the analyst said, adding:
0 reply
2 recasts
16 reactions
e28315122 pfp
e28315122
@e28315122
These long-term holders have moved approximately 179,000 BTC between Dec. 4 and Dec. 7, according to data shared by on-chain analyst Mignolet.
0 reply
2 recasts
14 reactions
e28315122 pfp
e28315122
@e28315122
Bitcoin’s price decline in the last 24 hours appears after notable coin movements among traders holding BTC for 6-12 months.
0 reply
2 recasts
14 reactions
e28315122 pfp
e28315122
@e28315122
This may have tempered expectations, with traders positioning for a potential broader price decline following the vote's outcome.
0 reply
2 recasts
12 reactions
e28315122 pfp
e28315122
@e28315122
Today’s Bitcoin drop could be linked to trader caution ahead of the Microsoft vote, particularly given the board’s recommendation against adding BTC to the company’s treasury.
0 reply
2 recasts
9 reactions