🔥🔥🔥 Analyst Warns: #bitcoin☀️ Nears Dangerous Territory – $40,000 On The Horizon?
Bitcoin Price Holds Steady Amid Market Uncertainty
Bitcoin is currently priced at $59,545, showing a modest 0.5% increase after dipping to $57,812 earlier today. This small recovery comes amid warnings from CryptoQuant analyst Grizzly, who points to Bitcoin's Net Unrealized Profit/Loss (NUPL) metric nearing a critical 0.4 level. Historically, this level has been a turning point—potentially signaling a shift to a bearish market. If Bitcoin drops below 0.4 on the NUPL, prices could fall to $40,000.
Despite these concerns, there’s a bullish perspective from Titan of Crypto, who notes that the fourth month after Bitcoin’s halving has historically been positive, with prices typically rising above the halving level. If this trend holds, Bitcoin could reach $66,000 by September.
The market is in a state of flux, with both bearish and bullish outcomes possible. Investors should approach with caution and stay informed.
Source - newsbtc.com
