A touch on the moving average and a bounce would be hugely bullish. But, there are 900 coins being minted a day. At $45k that's $40M/day, $280M/week that "potentially" have to be gobbled up. Obviously not all (if any) is hitting the market but....it's still either being accumulated by miners who will have to sell some at some point, or it's being accumulated by institutions who then aren't actually buying on the open market. Either way, that number grows the higher it goes so...we might stick around these levels for a while.
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