On-chain analytics provider Glassnode has identified a critical support level for Bitcoin (BTC) at $88,000. If BTC falls below this level, it could trigger a further decline. The analysis considers several on-chain metrics, including the Spent Output Profit Ratio (SOPR), which measures the profitability of spent Bitcoin transactions. A SOPR value below 1 indicates that sellers are realizing losses on their transactions, suggesting a potential downward trend. Additionally, Glassnode observed a decrease in the number of active Bitcoin addresses, indicating a potential reduction in market participation and liquidity. This could exacerbate any downward pressure on the price. Overall, the on-chain data suggests that a break below the $88,000 support level could lead to a further decline in the Bitcoin market, with potential implications for the broader cryptocurrency ecosystem.
Bitcoin Poised for a Downswing: $88K Support Level Crucial
Izjava o omejitvi odgovornosti: Vključuje mnenja tretjih oseb. Ni finančni nasvet. Lahko vključuje sponzorirano vsebino. Glejte Pogoje.
BTC
93.495,49
-1.28%
Odgovori 0