Samson Mao on Bitcoin Collapse: “Supply Shock Is Coming”

So far this week, the cryptocurrency market has seen two extremes of price action, with Bitcoin to rise to an all-time high (ATH) above $108,000 while falling to a low of $95,587.68. The week also saw a massive accumulation series from the biggest pro-Bitcoin companies. Despite this trend, Bitcoin prices are still falling, and Samson Mow has broken the silence on what is happening.

Bitcoin supply shock is coming

In a mail On In response, he said that the events of the past month are just the market acting irrationally with the limited supply of Bitcoin.

Earlier this week, MicroStrategy Bought Another $1.5 billion worth of Bitcoin to increase its total holdings to 439,000 Bitcoin. Aside from MicroStrategy, other smaller companies with Bitcoin treasuries, including MARA Holdings, have also announced significant purchases, effectively depleting the circulating supply of the currency.

Amid this buying, the market never broke above $108,000; Instead, it failed to hold support around the $100,000 level.

In his reaction, Samson Mo said investors need to trust their instincts and understand that a “supply shock is coming.”

BTC price recovery imminent

When MicroStratey announces… Buy BitcoinAs they have done over the past six weeks, market traders are finding a way to rebalance their prices with the average buy price. While it remains uncertain whether another purchase will be revealed next week, the market will likely regain its balance before a potential purchase announcement.

At the time of writing, Bitcoin’s price has fallen by 3.54% in 24 hours to $95,243.24. middle Continuous free fallThe currency is bound to witness a significant retest of this level, as it formed strong support around this price range over the past month.