Summary
- David Lawant, Research Director at FalconX, diagnosed that the Bitcoin market structure is very robust.
- He said that in the Bitcoin order book, buying pressure dominates, showing strong demand.
- Bitcoin was reported to be trading at $113,942.29 as of the 21st, up 0.77% from the previous day.
David Lawant, Research Director at FalconX, a virtual asset (cryptocurrency) trading platform, diagnosed that the Bitcoin (BTC) market structure remains very robust.
According to CoinDesk, a media outlet specializing in virtual assets, on the 20th (local time), he explained, "Looking at the Bitcoin order book, when the price drops slightly, the selling pressure quickly disappears and buying pressure dominates," adding, "This implies strong demand, showing that investors are taking advantage of short-term downturns as buying opportunities."
As of 04:20 on the 21st, Bitcoin was trading at $113,942.29 on the Binance Tether (USDT) market, up 0.77% from the previous day.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
