BITCOIN ‘SUPPLY SHOCK’ UNDERWAY AS BTC WITHDRAWAL RATE SPIKES TO 1-YEAR HIGH, WARNS CRYPTO ANALYST!!

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As Bitcoin continues sideways inside the $30,000-$40,000 range, new data is emerging about the potential for a bullish breakout. The supply shock is being unnoticed similar to Q4 2020 before the BTC price skyrocketed, says Willy Woo.

Willy Woo, an on-chain analyst, anticipates a potential supply shock in the Bitcoin market as long-term holders continued raking BTC supply from short-term ones. Woo stated in his July 2 newsletter that the process might push more Bitcoin out of circulation.

"It reminds me of the supply shock that went by unnoticed by the market in Q4 2020," wrote Woo. "Pundits were debating whether BTC was an inflation hedge in a post-COVID world when the data was pointing to long term investors stacking BTC at a fast pace."

In other trending Bitcoin News today: Bitcoin miner revenue jumps by 50% in 4 days after the BTC network saw its biggest-ever record difficulty drop, data shows. According to figures from monitoring resource Blockchain.com, daily revenues have surged by over 50%.

“Whilst the protocol’s now issuing the same number of coins as it regularly does, having difficulty wound down, we’re now in a situation where half the network has doubled their income and the other half of the network is essentially producing nothing.”

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Show Notes / News Resources:
✔ Bitcoin Technical Analysis: https://bit.ly/3qP0fQA
✔ UFC's $175M Crypto Deal
✔ McAfee's Death Saga Continues: https://bit.ly/3qRXqhC
✔ Russia To Confiscate Crypto: https://bit.ly/3hMOdmq
✔ Bitcoin Supply Shock Underway: https://bit.ly/3wlNL48

???? DISCLAIMER: This is NOT financial advice. This is an entertainment and opinion-based show. I am not a financial adviser. I am not responsible for any investment decisions that you choose to make.​​​​​​​​ Always do your own research and never invest what you cannot afford to lose.

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