EMC Labs: The market adjustment since March 13th has been due to the clearing of profitable chips, and it is essentially in place
2024/03/20 03:24
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!
A welcome pack worth 6200 USDT for new users! Sign up now!
Cryptocurrency fund management company EMC Labs posted on platform X stating that in cyclical trends, whenever BTC enters a bull
market and hits new highs, long holders (long-term investors) who hold most of the issued BTC begin to take profits. A key point is when the profit ratio exceeds 70% of the total market value of BTC. Around this time, a large amount of chips are often sold out in the short term, overdrawing purchasing power and leading to a phase adjustment in the market. This cycle is similar to 2017. In 2014, from March 6th when the profit ratio reached 71% until it ended on March 24th, it lasted for 18 days with an amplitude of -27.32%. The current adjustment started from March 13th when the profit ratio reached 72%, lasting till March 20th for seven days with an amplitude of -27.70%. From a spatial perspective it has basically arrived; from a temporal perspective it's not yet sufficient.
According to EMC Labs engine monitoring, chip selling peak has passed and currently inflow scale into exchanges (intended sell-off) has significantly reduced and returned to quiet outflow status. Based on these factors, bull market continues and there appears to be good buying opportunity now.
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!
You may also like
Indah Prakasa Sentosa controller PT Graha Inti Guna Persada cuts stake to 79.02% from 87.48%
Reuters•2026/09/09 07:39
Heliad invests in character robotics startup Dynamic Creatures
Reuters•2026/09/09 07:38
Sandisk Insider Sold Shares Worth $4,078,998, According to a Recent SEC Filing
MT newswire•2026/09/09 07:37
Hapag-Lloyd voting rights: Stähelin gains 73.86% stake via attribution disclosure
Reuters•2026/09/09 07:36
Crypto prices
MoreBitcoin
BTC
$79,201.38
+1.15%
Ethereum
ETH
$2,510.96
+1.45%
Tether USDt
USDT
$0.9999
+0.02%
BNB
BNB
$753.61
-0.21%
XRP
XRP
$1.44
+3.67%
USDC
USDC
$0.9999
+0.00%
Solana
SOL
$104.67
+1.77%
TRON
TRX
$0.3392
+0.28%
Hyperliquid
HYPE
$86.82
+3.22%
Zcash
ZEC
$1,241.96
+10.67%
How to buy BTC
Bitget lists BTC – Buy or sell BTC quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now