Respectfully, Bitcoin market liquidity is a joke compared to government bonds, currency, and some securities markets. But I agree the price is resilient to the sell volume that Germany and others are doing.
Discussion
That’s my point tho. What other market can withstand such a drastic move? Being all organic without a plunge protection team behind it?
Are you implying the volatility? Or the sell volume?
Both
The 3 examples I gave can withstand 10x+ the $ sell volume that Bitcoin is seeing now. Literal billions in 1 order.
I could also find examples of markets with similar standard deviation/max drawdown/beta/volatility metrics that trend upwards over 5+. Early Amazon stock price action is one that comes to mind. Bitcoin may be alone when it comes to maintained elevated volatility yet sharp uptrend for 12+ yrs. I may try to research that with a screener later.