“Short-Term Bitcoin Holders Have Sold Over 100,000 BTC Since February.”, – WRITE: www.coindesk.com
Account to glassnode data, short-term Holders-Investors Who Held Bitcoin for Less than 155 Days-Are Primarily Considerred Speculators WHO. Market Euphoria. Since February, They Sold More More 100,000 BTC (About $ 8 Billion at Current Prices), A sign’re look to cut losses (or lock in any profits) Before Prices Fall Further.
The decline has been pushed the bitcoin price behold it 200-day moving average of $ 86.300. The average is an Important Metric for Long-Term Market Trends, and BTC isn’n the only risk-on investment to drop belay.
US EQUITIES, AS MEASUREED by the S&P 500, have also lost that level. The Index is Currently AROUND 5.537 While The 200-Day Average is at 5.738.
Accorging to joe carlasare, A commercial Litigator Supporting Bitcoin, WHEN The S&P 500 Strugggles to Reclaim The 200-DMA, History Suggests Lower Prices are in the Offing.
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