๐ฎCrypto wizards, gather 'round! Bitcoin's taken a tumble below $64K, breaking its short-term holder realized price (STH-RP) and hinting at a possible slide to levels unseen in 49 days. ๐ฑ
CryptoQuant, our oracle of the hour, warns of a potential 8%-12% correction toward $60K, a level untouched since May 3. ๐
But hold onto your hats, folks! This isn't the first time Bitcoin's price has tested the STH-RP. It's been a solid support throughout the bull market since 2023. ๐
Now, we're all wondering where Bitcoin might head next, especially after the launch of spot Bitcoin ETFs in the US and the Bitcoin halving earlier this year. ๐ค
Ki Young Ju, the big brain at CryptoQuant, reckons Bitcoin's network fundamentals could support a market cap triple its current size. That's a potential price of $265K, folks! ๐
Got thoughts? Predictions? Wild conspiracy theories? Drop 'em in the comments! ๐ฃ๏ธ #Bitcoin #CryptoNews
P.S. Remember, the crypto market is as unpredictable as my ex. Invest wisely! ๐๐ธ