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Bitcoin: An intact macro-bullish structure and what it means for rest of December
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Bitcoin’s tussle with the $50,000-level has been ongoing for more than a week now. In fact, the recent flash crash under $45k reset BTC’s price to its early-October levels, pulling the asset down by over 15%.
Nonetheless, with the macro bullish structure still intact, here’s what it meant for the market’s top crypto.
While 4 December’s price correction sent the larger market into “extreme fear,” whales and bigger investors like MicroStrategy kept buying the dip. In the aftermath of the fall, however, the HODLer buying trend softened, with Bitcoin noting a price pullback of 20%.
The net flow of coins moving towards HODLers remains in the bullish region, as seen in the heatmap below. Now, while accumulation has mellowed down, there haven’t
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