【Madman's Trend Analysis】Bitcoin $74,000 Battle: Early Miners Selling, Can Institutions Absorb the Pressure?

ORIGINAL【狂人說趨勢】比特幣 7.4 萬美元攻防戰：早期礦工倒貨、機構能接住嗎？

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Madman says... Wallets from the Satoshi era in 2010 have started moving, with 40 addresses, each containing 50 BTC, being deposited into Coinbase. It is highly likely that this is for selling. The head of CryptoQuant stated that these types of miners always act at critical turning points, meaning early holders believe now is a selling point. Over the weekend, Bitcoin fell from 78,000 back to the 74,000 range, with basically no demand or buying pressure. Whether it can stabilize at this level will be crucial when the US stock market opens tonight. Last week, the demand for Bitcoin's rise mainly came from BlackRock's 8-day consecutive buying, with weekly inflows breaking a 3-month record. It appears that the duration of this pullback is relatively short, and the rotation between new and old capital will continue. If US institutional capital can absorb the selling, there is still potential at this level; if not, it will likely return to 70,000. US-Iran negotiations have returned to a state of uncertainty, causing oil prices to rebound significantly, so it is normal for Bitcoin to fall. There is high uncertainty around the expiration of the ceasefire agreement on April 22. The final trend will depend on US-Iran developments (Trump's rhetoric): ceasefire equals rise, conflict equals fall. Additionally, watch the inflows into BlackRock when the market opens tonight, as this will determine the strength of this week's trend. Inflows should be continuous, and it is highly likely that the price will maintain a short-term oscillating trend around 74,000 before the 22nd. Disclaimer: The article represents the author's personal views and opinions and does not represent the views or positions of Blockcast. All content and opinions are for reference only and do not constitute investment advice. Investors should make their own decisions and trades, and the author and Blockcast will not be held responsible for any direct or indirect losses resulting from investors' trading activities.

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