Buyers of Bitcoin, who bought when he reached the peak of all -time in the amount of USD 109,000 in January, sell in panic because cryptocurrencies are falling, says Onchain Analytics Glassnode, which does not rule out that Bitcoin can move to 70,000 USD.
Glass knot he said On the market of March 11, it reports that the last sale of the best buyers caused “intensive implementation of losses and a moderate capitulation event”.
The tiny -term handles escaped when Bitcoin fell from the top
The amount of buyers paying higher Bitcoin (BTC) prices in recent months is reflected at the short-term price of the owner-average purchase price for people with Bitcoin for less than 155 days.
In October, the tiny -term price implemented amounted to USD 62,000. At the time of publication, it costs USD 91 3,32 – by about 47% in five months, According to for bitbo data.
Meanwhile, Bitcoin trades at USD 81,930 at the time of publication, According to to Coinmarketcap. This leaves the average tiny -term owner with an unrealized loss of about 10.6%.
Bitcoin has dropped by 5.90% in the last seven days. Source: Coinmarketcap
Glassnode said that the price of tiny -term owners implemented shows that “market momentum and capital flows have become negative, signaling a decrease in demand force.”
“Investors’ uncertainty affects sentiments and confidence,” he added.
Glassnode said that tiny -term owners are “deep underwater” from 71 300 to 91,900 USD and warns that Bitcoin can extract only USD 70,000 if it sells.
“The probability of creating a temporary floor in this zone matters, at least in the near future,” said Glassnode.
Brief -term Bitcoin owners are “deep underwater” from 71 300 to 91,900 USD. Source: Glass knot
The research company of the 10x research market marked it with a “correction of the textbook” in the note on March 10, adding that when Bitcoin’s decrease below $ 80,000 “about 70% of all sales come from investors who bought in the last three months.”
Related: Bitcoin shifts another 3% – is the BTC price directed for $ 69,000 next?
On the same day, co -founder of Bitmex, Arthur Hayes, said that Bitcoin could supplement the price of 78,000 USD, and if this fails, he can go to USD 75,000.
Glassnode explained that a similar model for selling Bitcoins was observable in August, when Bitcoin fell from USD 68,000 to around USD 49,000 among the fears of recession, bad data on employment in the United States and snail-paced growth among leading technical actions.
However, Bitcoin increased by 7.5% in the last 24 hours, when the American market was created on March 11 after it dived the day before after US President Donald Trump refused to exclude that the recession was on the cards.
Warehouse:Sebastien Borget from Sandbox Cringes on the word “influencer”: X Hall of Flame
This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.
