๐Crypto market sees a correction, but don't panic! New Bitcoin investors might be selling in a frenzy, but this isn't necessarily a bear market. ๐ป
โข "Realized losses" have spiked during high volatility, says Glassnode. This tracks the price difference from when coins were last moved to when they're moved again.
โข Today's dip is unique, breaking below the average new Bitcoin buyer's break-even point of $59,600.
โข This doesn't mean the bull market is over, though! ๐
โข Futures market open interest isn't excessive compared to market size, a typical sign of market tops.
โข Grayscale Bitcoin Trust (GBTC) was a major source of sell-side pressure last month.
โข Currently, 3.31 million BTC are held at a loss by short-term holders, two-thirds of their holdings.
โข Analysts say Bitcoin was due for a price crunch, having gone too long without a significant pullback.
So, what's your take on this? Are you holding or selling? Let's chat in the comments! #Bitcoin #CryptoMarket #HODLorSell