📢📢📢Blockchain news flash is here! According to the latest report from CryptoQuant, Bitcoin is now at a "critical point" and multiple on-chain indicators are signaling further declines. 😱😱😱
But don't worry, whales are experiencing the fastest Bitcoin accumulation rate in more than a year! Although Bitcoin has rebounded above $57,000, the continued selling of the German government and the repayment of Mt.Gox still threaten Bitcoin to fall further. 😨😨😨
CryptoQuant's report shows that the profit and loss (P&L) index is hovering near its 365-day moving average (MA). If this index falls below its 365-day moving average, Bitcoin may start a major correction like the previous decline. 😰😰😰
CryptoQuant's Bitcoin Bull-Bear Cycle Indicator is also approaching a key level and "may turn into a bear market if the price falls further." However, we remain optimistic about Bitcoin because this is just a natural adjustment of the market and the long-term value of Bitcoin still exists. 👍👍👍
The above is today's blockchain news flash, let us look forward to the next performance of Bitcoin! 💪💪💪