Market Overview
After a period of consolidation, BTC’s price has seen a long-awaited rebound. With the market valuation of BTC falling by more than 75% in 2022, most speculators were expelled from the network. In the process, Bitcoin was redistributed by moving from the less confident to the more confident. This phenomenon is a native mechanism of the market cycle: assets are transferred into the hands of cost-insensitive depositors who will invest over a longer time frame and store Bitcoins in their cold wallets until the time is right.
From the analysis in the data, it can be concluded that the demand for BTC around $20,000 has been elevated recently, with a large number of transactions taking place around this price; at the same time, it can be seen that there are a large number of BTC holders who started accumulating 6 months ago, and they currently have a large loss of profit and are not willing to sell at this time.
In terms of overall market flows, inflows into digital asset investment products totaled $27 million last week, while trading data released later the week before showed inflows revised from $12 million to $343 million, the largest single week of inflows since November 2021. This brings inflows for the month (ending July 25) to $394 million, bringing total assets under management back to the $30 billion level seen in early June 2022.
Regionally, most of the inflows came from Switzerland, totaling $16 million, with its inflows totaling $356 million in the previous week, compared to $577 million so far this year. This makes Switzerland a popular region for digital asset investors. The U.S. and Germany, on the other hand, both saw small inflows previously, totaling $9 million and $5 million, respectively. inflows into BTC totaled $16 million and its previous week’s inflows totaled $206 million, the largest single week of inflows since May 2022. All of these new inflows indicate some turning point in market sentiment and a gradual return of confidence as the merger continues to progress and be completed.
Summary
Profitability remains poor across all investor classes to date due to the small magnitude of the price rally, and the long-term holder group is no exception. Their selling patterns suggest that a not insignificant sell-off has occurred between May and June 2022. However, as redistribution occurs, Bitcoin is gradually moving toward long-term holders. There is a greater concentration of supply and demand in the $20,000 to $40,000 price range, which is consistent with the technical and on-chain price models, and these price areas become areas to focus on. Inflows and momentum in the short term suggest that the uptrend continues. And in the longer term, the current trend suggests the worst of the time period may be over, but it needs to be accompanied by a gradual fundamental repair and the market may take longer to recover.
TITAN Delivery
Fixing simulated data acquisition hook return types, updating css styles.
List of collision tokens, fixing metamask issues.
Adding time selector dropdown UI and fixing padding.
Updating the time picker style.
Using token-related resources, adding initial token table, updating table borders.
Add token table UI and token row component.
