Summary
- The chief analyst at CryptoQuant reported that the price correction of Bitcoin is continuing.
- As traders' on-chain unrealized profit plummets, an analysis has emerged that the price support level of Bitcoin during the correction process is $88,000.
- Currently, Bitcoin is trading at $94,101.85, down 3.28% from the previous day.
Julio Moreno, the chief analyst at CryptoQuant, stated on the 8th (local time) via X (formerly Twitter) that "as the Bitcoin (BTC) price correction continues, traders' on-chain unrealized profit has plummeted," adding that "this can be seen as a healthy correction process, with the traders' realized price, which corresponds to the current price support level, being $88,000."
Meanwhile, BTC is trading at $94,101.85, down 3.28% from the previous day, as of 02:59 on the 9th, based on the Binance Tether (USDT) market.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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