Bitcoin price trend improvement
On January 23, Bitcoin hit a two-month low of $38,000. Another sign of Bitcoin's decline was that Bitcoin miners were being paid "very little". This may have led to increased selling pressure from miners as they unleashed their biggest selling wave since May 2023 a few days ago.
In addition, short holders' unrealized margin fell to 0 percent, and they sold their holdings at a loss for the first time since October. However, CryptoQuant believes that a price rally could happen soon as the unrealized profit margin reaches zero, a benchmark for Bitcoin to resume its ascent.
💰@sanor016
