Institutional demand for Bitcoin evaporates as BTC struggles below $31K
The rocky road that (BTC) has been on for the past two months continued on July 19 as a widely predicted move downwards materialized in the early hours on Monday and dropped the price of BTC below $31,000.
Data from Cointelegraph Markets Pro and TradingView shows that a wave of mid-day selling pushed the price of BTC to a low of $30,400 before bulls arrived to provide support and lift the price back to $30,850.
Source: TradingViewBitcoin UTXO realized price distribution. Source: GlassnodePurpose Bitcoin ETF flows. Source: GlassnodeBitcoin all-exchange inflow. Source: CryptoQuantTotal Bitcoin balance held by OTC desks. Source: GlassnodeDaily cryptocurrency market performance. Source: Coin360
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