[서화목] Reason for Bitcoin Adjustment?

Citing Glassnod data, CoinDesk on the 15th (local time) said, "Drawers have been selling Bitcoin relatively consistently over the past few months." "Since July 2020, the average number of Bitcoin sent by miners to the exchange is about 2,100 per week (based on the reporting point) and the figure has decreased to about 1,200," it said.

According to the data, a large amount of Bitcoin (21,000) was withdrawn from the miner's wallet for four days from December 26 to 30, 2020, but Bitcoin rose rather from $26,000 to $29,000, and Bitcoin prices rose 43% in the next nine days.

The media explained, "Even if Bitcoin, which was transferred to the exchange by the collector, is sold out immediately in the market, their orders will account for a very small portion of the daily trading volume."

For example, miners sent 1890 BTC (the year-round maximum of about $48 million at the time) to the exchange on December 26, 2020, with Binance BTC/USDT market trading exceeding 148,000 BTC. Even if all 1890 BTCs were sold out, it is 1.3% of daily trading volume.

In addition, large mining pools F2Pool and Lubian's BTC holdings have been steadily increasing. The media analyzed that the big adjustment at the beginning of the week may be due to some profit-taking sales by U.S. investors.

Meanwhile, European Central Bank (ECB) President Christine Lagarde recently attended a "Reuters Next" conference and said, "Bitcoin is a kind of speculative asset," adding, "Bitcoin creates ridiculous businesses and is often used for money laundering crimes." Bitcoin is a kind of speculative asset and needs regulation," he said.

"Over the past decade, banks have paid billions of dollars in fines for illegal activities such as money laundering," said Galaxy Digital founder Mike Novogratz. The fine would have to be $100 billion more. "Before making such a comment, I want you to provide evidence that cryptocurrency was used for large-scale money laundering," Lagarde said.