Phyrex Ni: Bitcoin (BTC) turnover rate continues to decline, with a slight increase in exits between 100500 USD and 105000 USD.

Gate News, Chinese crypto world opinion leader Phyrex Ni stated in an X post that more attention in the Bitcoin (BTC) and crypto assets market has shifted from the Middle East war to tariffs, which have been the main topic before the weekend. He pointed out that as prices stabilize, the BTC turnover rate continues to decline, with a slight increase in exits between $100,500 and $105,000.

Phyrex wrote: "Today's homework is very easy to write, so easy that it feels like it's just filler. There haven't been any significant events happening; more attention has shifted from the Middle East war to tariffs. Even though the war hasn't ended, as long as the impact on oil prices is not significant, the impact on U.S. inflation will also be minimal. Tariffs are the main topic today. Earlier, Trump just expressed that he had signed an agreement with China, but did not clarify what kind of agreement it was."

He continued to say that, according to a report by The Wall Street Journal (WSJ), the European Union may consider reducing tariffs on American imports. If this is true, it would be almost possible for China and the EU to reach an agreement on the most challenging issues. Today, there was also news from the White House that the reciprocal tariffs scheduled for July 6 may be further postponed, which is to be expected; it is normal to extend by another month.

"Looking back at the data for Bitcoin, as the price stabilizes, the Turnover Rate continues to decline. In the past two days, it has been short-term investors who are still dominant in the turnover, while earlier investors are still on the sidelines. Currently, there are no new changes in macro or political situations, or even geopolitical conflicts. For BTC, it is just a slight fluctuation," he pointed out.

He finally analyzed: "There is no change in the BTC support level, the support level between 93000 USD and 98000 USD is still very stable, but the exit that occurred between 100500 USD and 105000 USD has slightly increased, after all, the latter is mostly short-term investors, and it will take a longer time to form stable support."

(Source: X, Glassnode)