Does anyone want to buy at these levels? How much fresh fiat is entering the markets currently?
People who recently learned enough about bitcoin and decided to invest, and those that entered during the November media blitz who now slowly divert a portion of their paycheques to build their BTC position. In fact yesterday I received an email from a friend asking "what exchange do you use" after discussing bitcoin over the holidays.
Does anybody want to sell at these prices?
Miners who do not keep all their coins, panic sellers, and the occasional great whale who wants to lock in USD profits at these higher price levels (and must do so slowly). Non-great-whale bitcoin investors who follow a disciplined divestment schedule have already sold.
Hopefully within the next week we can know whether the initially rally will be continued or whether some people are going to try to sell us down. I put it about 50/50%.
Agree.