Meltem Demirors, a veteran expert in cryptocurrency, believes that the upcoming capital outflows could create significant challenges for the cryptocurrency market.
Demirors, a partner at Crucible Capital investment firm, shared that "there is indifference and complacency everywhere".
"The overall view shows that the trading volume of Bitcoin is currently lower than before the election, and potential volatility in options markets is also at an extremely low level – which indicates that professional Bitcoin leverage trading demand is very weak.
So how will capital flow in the crypto market unfold in the coming time? 2024 is a strong year thanks to ETF funds and growth from Trump Pump along with a long-term investment strategy, creating a record year for capital inflows. We also saw Gox moving coins but not creating selling pressure. At the same time, there is not much demand. The market may move sideways for a period of time.
I still believe we have many challenges ahead in this cycle and the result will only have two possibilities. Each week, 800 million dollars of tokens are unlocked. Choose my buying demand. Please let me find an unexpired account. This is the truth".
Demirors noted that the cryptocurrency market's price increase this week is a "healing explosion move" by retail traders and commodity trading algorithm (CTA) traders.
The total market capitalization of cryptocurrencies may increase by more than 4.4% over the past seven days.
Disclaimer:The article only contains target information, not investment advice. Investments should be carefully researched before making a decision. We do not bear responsibility for your investment decisions.
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Minh Anh
