🚨 $BTC 𝗦𝗵𝗮𝗸𝗲-𝗨𝗽: 𝗜𝘀 𝘁𝗵𝗲 𝗦𝗲𝗹𝗹𝗶𝗻𝗴 𝗦𝗽𝗿𝗲𝗲 𝗢𝘃𝗲𝗿? 🤔
Bitcoin just dipped 1.5%, now hovering around $68K. Just a reminder that the crypto market loves its ups and downs! 🎢
But hold on, there’s a twist! Jolino Moreno, head of research at Cryptoquant, tweeted some intriguing insights. 🐦
Despite Bitcoin being back near $70K, it’s not the same $70K as in March. Here’s why: Most people who bought at the peak in March have already sold off. This means there’s a lot less selling pressure now since fewer unrealized profits are hanging around. 📉 Current data shows unrealized profits are just 3% now, compared to a huge 69% back in March! So, the major sell-off could be done. 🤷♂️⛑️
But wait... ✋️🤯 Remember that recent Bitcoin drop? It’s a classic example of crypto’s unpredictability. Calling short-term moves is like guessing what your cat will do next (spoiler: it’ll probably be cute and chaotic). 🐱
What do you think? Is this just another day in the wild world of crypto? Share your thoughts in the comments! And don’t forget: DYOR. 💡💬
