๐๐ According to Ark Invest's September report, Bitcoin is encountering technical resistance marked by the 200-week moving average and short-term holder costs. Additionally, the proportion of long-term holder holdings as a part of the total supply is at its highest since 2010 when compared to Bitcoin realized market capitalization. ๐๐
Interestingly, the report notes that realized profit was oversold at 0.02%. Moreover, Bitcoin closed the month with realized profit and realized loss nearly balanced, indicating a neutral and healthy state for the market. ๐๐น
The crypto landscape continues to evolve, with various indicators shaping the market sentiment. ๐๐ฐ #BitcoinAnalysis #CryptoMarket #ArkInvest