Bitcoin continues to showcase its resilience, maintaining levels above $100,000 despite massive stock sales by corporate executives in traditional markets.
Bitcoin's resilience at $100k mark
Bitcoin's performance remains strong, trading above the coveted $100,000 mark. CoinGecko data shows BTC reaching a 24-hour high of $102,528. It is noteworthy that 99% of Bitcoin holders are profiting at current prices. Remarkably, Bitcoin's price strength persists despite volatility in traditional financial markets, with analytics highlighting that 71% of Bitcoin holders have retained their assets for over a year.
High stock sales volumes
While Bitcoin is surging, corporate executives are selling stocks at record levels. The Kobeissi Letter reports that the ratio of stock sellers to buyers has reached a staggering 6:1, potentially reflecting economic uncertainties or overvaluation.
Impact on Bitcoin and liquidations
Despite the massive stock sales, Bitcoin remains largely unaffected, showing minimal corrections and quick recovery. The Kobeissi Letter suggests that Bitcoin has been recovering swiftly from recent dips, with declines of over 5% lasting less than a day since November 5th.
Bitcoin continues to impress with its resilience amidst economic turmoil in traditional markets. Institutional interest and renewed investor confidence drive the cryptocurrency's positive momentum.
