BTC has surpassed $97,000, setting a new all-time high.
As of 2:30 pm on the 21st, based on CoinMarketCap, BTC recorded $97,685.49, up 5.57% from the previous day. At the same time, based on Bithumb, BTC is trading at 137,277,000 won, up 3.64% from the previous day.
Today, Joo Gi-young, CEO of Cryptoquant, analyzed through X that "the BTC bull market has begun" and "the data pattern is similar to 2022".
He cited the accumulation of BTC by whales as the main driver of the recent uptrend. He explained that whales have been continuously accumulating BTC over the past several months. The CEO also analyzed that the doubling of mining costs after the halving in April last year is a factor in the price increase. In a situation where mining rewards are decreasing and costs are increasing, BTC prices need to rise for miners to maintain profitability. In other words, miners are unlikely to sell the BTC they currently hold at low prices, and this can ultimately lead to an increase in market prices.
- Reporter Doyeri
- yeri.do@decenter.kr
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