Over 840,000 New Bitcoin Addresses Suffer Losses Amid Speculations of Impending Sell-Off
Bitcoin's recent surge above $52,000 has been followed by a rebound and pullback frenzy, causing some concern about a potential sell-off. Over 840,000 new Bitcoin addresses that bought BTC during the rally have incurred significant losses, which could lead to increased selling pressure. Crypto analyst Michaël van de Poppe predicts a potential correction before the Bitcoin price peaks between $53,000 and $58,000. Despite this, TradingView has given Bitcoin a "Strong Buy" indicator and the cryptocurrency currently boasts a market capitalization of $1.01 trillion.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Crypto Market Set for December Dip Before Explosive Rally, Analysts Warn
241202: XRP Tops $100B Market Cap, Reaches 2018 Levels, as Ripple’s RLUSD Close to Approval
XRP zoomed nearly 10% in a 24-period from Friday to Saturday, reaching a local high of $1.92 to set prices previously seen in January 2018, when it briefly touched an all-time high above $3.40. The surge brought 7-day gains to 30%, outperforming bitcoin (BTC) and other majors, while 30-day gains st
Players with an ETH band win rate of 83.3% re-buy ETH
Bitcoin set for ‘insane long opportunities’ as it enters price discovery: Traders
Trending news
MoreCrypto prices
More
