๐จ $BTC ๐ฆ๐ต๐ฎ๐ธ๐ฒ-๐จ๐ฝ: ๐๐ ๐๐ต๐ฒ ๐ฆ๐ฒ๐น๐น๐ถ๐ป๐ด ๐ฆ๐ฝ๐ฟ๐ฒ๐ฒ ๐ข๐๐ฒ๐ฟ? ๐ค
Bitcoin just dipped 1.5%, now hovering around $68K. Just a reminder that the crypto market loves its ups and downs! ๐ข
But hold on, thereโs a twist! Jolino Moreno, head of research at Cryptoquant, tweeted some intriguing insights. ๐ฆ
Despite Bitcoin being back near $70K, itโs not the same $70K as in March. Hereโs why: Most people who bought at the peak in March have already sold off. This means thereโs a lot less selling pressure now since fewer unrealized profits are hanging around. ๐ Current data shows unrealized profits are just 3% now, compared to a huge 69% back in March! So, the major sell-off could be done. ๐คทโโ๏ธโ๏ธ
But wait... โ๏ธ๐คฏ Remember that recent Bitcoin drop? Itโs a classic example of cryptoโs unpredictability. Calling short-term moves is like guessing what your cat will do next (spoiler: itโll probably be cute and chaotic). ๐ฑ
What do you think? Is this just another day in the wild world of crypto? Share your thoughts in the comments! And donโt forget: DYOR. ๐ก๐ฌ
