Strong Network Fundamentals and Weak Price Action

Profitability is getting squeezed from two sides

Over the last weeks Bitcoin price has shown continued weak action. BTC dropped below the $20k level. Meanwhile, the fundamentals of the network look very strong. The circulating supply that moved in the last month, was at a record low of 6,1%. Long term holders are not selling. The amount of wallets holding 0,01 to 0,1 BTC & 0,1 to 1 BTC have increased …