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#BItcoin lost crucial levels after rejecting at $27.5K.
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The last time the sell-side risk ratio was this low was in late 2015, which started the bull run that reached $20,000 in December 2017. #bitcoin
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Glassnode’s lead on-chain analyst Checkmate said in his comments on May 24 that the sell-side risk ratio metric suggests that “sellers are exhausted on both sides,” and that indicates big moves “are coming.”
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While anything is possible, the Bitcoin bulls are unlikely to give up the $25,000 support without putting up a fight.
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Bitcoin remains pinned below $27,000, and the recent weakness of the past few days has increased calls from analysts for a fall to the low $20,000 levels.
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BTC’s price remained below the key $27K mark and was trading at $26,252.95.
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