Bitcoin has been facing challenges in August due to decreasing liquidity and apprehension over government sell-offs, which could lead to substantial overhang in supply.
According to analysts at Kaiko, supply overhang continues to affect crypto markets, with numerous potential sellers looming on the horizon as the market reacts.
The US and countries like China and Ukraine hold large stockpiles of Bitcoin, creating concerns for the market as potential disposals could add pressure to prices.
Subdued trading volumes in the Bitcoin spot market have compounded recent volatility, with a seven-day average turnover rate falling significantly from peak levels.
Collection
[
|
...
]