Analyst: On-chain data indicates that bitcoin selling pressure is easing and the market is buying the dip
ChainCatcher news, CryptoQuant analyst Axel posted on social media that the proportion of bitcoin supply in profit (30-day change) has rebounded from -12% to -6%, indicating that selling pressure is weakening and the market is buying the dip.
Although the current proportion of profitable coins is still lower than the level a month ago, the decline has significantly narrowed—negative momentum is weakening.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Trending news
MoreNext Week's Macro Outlook: The Federal Reserve Will Announce Its Interest Rate Decision on Thursday, Followed by a Press Conference by Powell
Market news: An Aethir executive, together with investor-backed VC leveraged funds, is shorting, acting as a counterparty to the founder’s fundraising and price-pumping efforts, dumping tokens to harvest profits from the community.
Crypto prices
More
