MAC_D
[BTC Velocity has been decreasing.]
Velocity is the total amount of coins moved in a year divided by the total supply, which is an indicator of how fast coins are being distributed in the market. Bitcoin is different from the previous cycle in that Velocity does not fall but rises despite increasing supply during the bear market. Usually, if the decline continues, Velocity has decreased, but despite the long decline this time, BTC's transaction has been very active. This means that institutions' funds continued to trade bitcoin despite falling prices. However, Velocity has been declining recently. This means that BTC's transactions have been relatively reduced. Since June '22, we've seen fewer transactions and less price volatility in terms of prices. (ATR: Average True Range can measure price volatility and is declining) In conclusion, because the Fund and the whales have less movement, it seems that even a small price shock may cause dumping.