Bitcoin Weekly Forecast: Can BTC bounce back from recent market crash?

📆 09-08-24 12:11:00
📰 FXStreetNews

⏱ Reading Time:
14 sec. here
4 min. at publisher
📊 Quality Score:
News: 16%
Publisher: 72%

Bitcoin Nouvelles

Cryptocurrencies,Technical Analysis

Bitcoin (BTC) trades above $60,000 on Friday after a 7.2% decline and a dip below the $50,000 level earlier in the week, following a test of its daily support level at around $49,900 on Monday.

Arkam Intelligence data shows major investors retained their Bitcoin holdings during Monday's sell-off. Bitcoin UTXO loss ratio is similar to the 2020 bull cycle. On-chain data suggests that permanent holder addresses are accumulating BTC despite the recent turmoil. Cryptoquant data shows that futures trading volume hit an all-time high, spot trading volume hit the second-highest ever this week. Bitcoin trades above $60,000 on Friday after a 7.

This indicates accumulation and suggests investor confidence in BTC has led them to purchase recent dips. With this metric reaching new records, it points to a calculated strategy by holders, who see the current price dip as a brief pause in Bitcoin's long-term rise.

Écrire un Commentaire

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Bitcoin Weekly Forecast: Can BTC rebound from the recent market challenge?Bitcoin’s (BTC) price failed to close above $70,000 at the beginning of the week and dropped to $64,000 by Friday.
La source: FXStreetNews - 🏆 14. / 72 Lire la suite »

Bitcoin Weekly Forecast: Will BTC manage to recover from recent market turmoil?Bitcoin (BTC) recovers to $67,000 on Friday after finding support around $63,500 a day before.
La source: FXStreetNews - 🏆 14. / 72 Lire la suite »