🪙 #Bitcoin hit a new low on May 2nd, reaching $57,700 and continues to decline

Over the past 24 hours, #BTC has lost 4%, yet market participants remain optimistic. Both #Glassnode and #CaprioleInvestment pointed out that a total of 374,000 coins from the four main #bitcoin players have been dumped on the market since the beginning of this year.

This volume is equivalent to a $24 billion dump 📉

#CryptoNews

#Opinion

🪙 Traders are holding their payouts from #MtGox

Analysts at #Glassnode claim in a new report that most investors who received compensations are continuing to hold their coins and are not moving them to the market.

This hypothesis is supported by the data on the spot cumulative volume delta (CVD), which the report's authors applied to two major exchanges receiving the funds.

The report also notes a steady demand for #BTC, indicated by fluctuations in the range of $66,000–$68,000 per #Bitcoin during the payout period.

👍 — If you need a #glossary post explaining "cumulative volume delta"
❤️ — If you will explain it yourself in the comments

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