Bitcoin failed to sustain weak upward momentum
The behavior of Bitcoin price action continues downward, even when some optimism had been generated when Bitcoin bounced to the $67,000 level it quickly retreated and has even been losing important levels with the $65,000 level.
Recently William Suberg socialized the concern that has arisen from the high volatility that has developed in the BTC price action that returned during the previous day's trading session on Wall Street.
One piece of information to know is that near-term bitcoin holders are approaching the break-even point in the $63,500 area, this because "That area coincided with a key bull market support trend line that is now on the radar of analysts, including Checkmate, senior on-chain analyst at Glassnode."
According to information reported by Cointelegraph, "the realized short-term holder price (STH-RP), currently at USD 63,700, has driven BTC price action since the bull market began in early 2023."
It has been indicated that, "It's hard for me to be too scared about bitcoin's price action when unrealized losses look like this. It could deteriorate, sure... but it hasn't yet."
SOURCES CONSULTED
Cointelegraph. ‘Buy the dip?’ Bitcoin price drops to new 1-month lows of $64K. Link
OBSERVATION:
The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Cointelegraph
