šCrypto 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. š»
ā¢ "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.
ā¢ Today's dip is unique, breaking below the average new Bitcoin buyer's break-even point of $59,600.
ā¢ This doesn't mean the bull market is over, though! š
ā¢ Futures market open interest isn't excessive compared to market size, a typical sign of market tops.
ā¢ Grayscale Bitcoin Trust (GBTC) was a major source of sell-side pressure last month.
ā¢ Currently, 3.31 million BTC are held at a loss by short-term holders, two-thirds of their holdings.
ā¢ 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
