Bitcoin Stalls Around $112K as Whales Lead Wave of Selling

OKX-BTC/USDT is currently trading at $113005, with a 5-minute increase of 0.05%. Please be aware of market fluctuations.

[Bitcoin Implied Volatility Hits New Low for 2023, Market May Be Poised for a Major Breakthrough] Analysis from XWIN Research indicates that Bitcoin's implied volatility has dropped to its lowest level in 2023. Similar low volatility was observed before Bitcoin surged from $29,000 to $124,000, sparking concerns about potential sharp market movements. Data from CryptoQuant further supports this view: exchange reserves are near multi-year lows, suggesting a tightening supply of Bitcoin available for sale; the MVRV ratio is in a neutral range, indicating stable investor sentiment with no signs of panic selling or significant profit-taking pressure; funding rates remain balanced, with no clear bias in the derivatives market. Overall, the market is in a "wait-and-see" mode, and the subdued implied volatility may signal an imminent decisive move. Historical experience suggests that such calm periods are often short-lived.

From the perspective of member exclusive large transaction indicators, the main net inflow in the past 12 hours was $2.8 million, with a total buying amount of $19.83 million, significantly higher than the selling amount of $17.02 million, showing a long trend. However, in the latest 1-hour cycle, there have been over 1 million large market sell orders, indicating clear signs of suppression, echoing the bearish signals of the K-line pattern and the flat top, suggesting that short-term pressure may be exerted. The current price is below EMA52, and KDJ has entered the overbought zone after a dead cross. Beware of the risk of a pullback. The large transaction indicator accurately captures the main trend and helps you plan ahead. Open membership immediately and get ahead of the main capital flow! The data is sourced from the PRO member's [BTC/USDT Binance 1-hour] candlestick, for reference only, and does not constitute any investment advice.

[The Scale of Cryptocurrency Treasury Reaches $105 Billion] According to a report by Coin Bureau, the total value of digital assets held by publicly listed companies and funds has now reached $105 billion, as reported by Jinse Finance.

[South Korea's People Power Party Proposes 'Digital Asset Market Integration Act,' Covering Derivatives Regulation and More] Kim Jae-seop, a member of South Korea's People Power Party, has submitted the 'Digital Asset Market Integration Act' to the National Assembly. This marks the first virtual asset industry bill proposed by South Korea's largest opposition party and the third industry-specific legislative proposal submitted to the National Assembly. The bill is comprehensive, covering the definition of digital assets, business licensing and registration systems, governance structures and internal control standards, user asset protection, unfair trading regulations, and obligations for stablecoin issuance and redemption. Additionally, the bill includes special provisions for digital asset derivatives and the establishment of a professional brokerage system, aiming to provide a comprehensive legal framework for South Korea's digital asset market.