Editor's PiCK
[Analysis] "Bitcoin Long-term Holders Trading ↑…Possibility of Correction Exists"
Summary
- Bitcoin recently surpassed $100,000, but an analysis suggests a possibility of correction due to increased trading by long-term holders.
- CryptoQuant reported that the price quickly plummeted to $90,000 due to increased selling pressure, but it recovered rapidly.
- Even after the recovery, the increase in long-term investor trading indicates that the possibility of further correction still exists.
A recent analysis suggests that Bitcoin (BTC), which recently reached $100,000, may experience a correction and decline in the future.
On the 9th (local time), CryptoQuant author XBTManager reported, "As Bitcoin reached $104,000, long-term holder trading has been occurring frequently. There is a possibility of a correction as selling pressure increases."
Regarding this, the author explained, "After these trades, the strong selling pressure caused the price to quickly plummet to $90,000, but fortunately, it showed a rapid recovery to $102,000. However, after the recovery, the increase in long-term investor trading suggests the possibility of selling pressure. The increase in long-term holder trading after a price rebound still indicates the possibility of a correction."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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