Bitcoin Short-Term Holders at a Loss 📉
Bitcoin (BTC) is currently experiencing a downtrend, affecting the entire crypto market. Recent data shows that short-term holders of Bitcoin are facing losses compared to their initial purchase prices. Over 80% of these short-term holders, those who have held their BTC for less than 155 days, bought their tokens at prices higher than the current market rate.
– Short-term holders now facing losses
– Over 80% of holders purchased at higher prices
– Similar scenario seen in previous years
– Investors at risk of panic selling
– Bearish trend could be precipitated
Bitcoin Price Decline Continues 📉
Bitcoin’s price has been on a downward trajectory, breaking key support levels. In the past week, the asset has dropped by 1.7%, followed by a further decline of 2.7% in the last 24 hours. The price plummeted to as low as $57,918 before bouncing back slightly to trade at $58,339 at the time of writing. Interestingly, despite the price drop, BTC’s daily trading volume has actually increased.
– Continued decline in Bitcoin price
– Lost support levels
– 1.7% decrease in the past week
– 2.7% drop in the last 24 hours
– BTC trading at $58,339
– Daily trading volume on the rise
Analysts Bullish on Bitcoin 📈
Despite the bearish sentiment surrounding Bitcoin, several analysts remain optimistic about a potential rebound. One prominent crypto analyst, Elsa, pointed out that Bitcoin’s daily MACD indicator has turned bullish. However, there seems to be a lack of liquidity hindering the push for an upward movement.
– Analysts optimistic about BTC
– Anticipating a rebound
– Daily MACD indicator bullish
– Liquidity needed for price surge
– Lack of liquidity holding back BTC
Hot Take: Bitcoin seeking support levels 📉
Despite the current decline in price, Bitcoin remains a resilient asset in the crypto market. Short-term holders facing losses should consider the long-term potential of Bitcoin and hold onto their investments for future growth. With analysts predicting a rebound and bullish indicators emerging, Bitcoin’s price may soon see an upward trajectory once the necessary liquidity is met.
Sources:
– (https://twitter.com/_Checkmatey_/status/1825328497067540737?ref_src=twsrc%5Etfw)
– (https://twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw)
– (https://twitter.com/hashtag/Bitcoin?src=hash&ref_src=twsrc%5Etfw)
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