Evaluating Bitcoin's [BTC] price trajectory if regulators dial-up heat on crypto
Whale and institutional demand for Bitcoin see a slight recovery.had a strong start this year but that sentiment might soon change. Especially now that fears of a recession are threatening to rip the proverbial bandage off the recovering market. The risk of regulatory-induced FUD might also contribute to a less exciting outcome than anticipated.Bitcoin did experience a bit of a slowdown in demand in the last few days ahead of the FOMC announcements.
The FTX debacle has already affected liquidity and shutting off access through the traditional banking system may yield a crypto demand shock. These concerns might be the reason why Bitcoin bulls failed to recover strongly after theThe demand side has certainly demonstrated interesting observations in the last few days. For example, addresses with balances greater than 1,000 BTC dropped by a substantial margin between 25 January and 1 February.
seem to be on the recovery. For example, the Bitcoin Purpose ETF holdings finally started accumulating in the second half of January.Bitcoin’s exchange flows did fluctuate towards the end of January in line with the increased uncertainty. However, the first three days of February brought forth some recovery. Furthermore, exchange outflows outweighed exchange inflows at the time of writing. This confirms that buy pressure is increasing.
On the plus side, the current concerns might dissipate if the regulators implement crypto-friendly regulations.Subscribe to get it daily in your inbox.
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