Summary
- Julio Moreno, Senior Analyst at CryptoQuant, revealed that Bitcoin selling pressure is being exhausted, and traders are experiencing an average of 12% unrealized losses.
- He analyzed that the current situation is similar to the formation of a local bottom, but warned that price volatility could continue for 3-4 months.
- BTC was reported to be trading at $85,637.87 on Binance, down 2.05% from the previous day.
Julio Moreno, Senior Analyst at CryptoQuant, analyzed on the 27th (local time) via X (formerly Twitter), "Is Bitcoin (BTC) selling pressure being exhausted? Currently, traders are experiencing an average of 12% unrealized losses, which is similar to when local bottoms formed during this bull market."
However, he added that "prices may move within a range for 3-4 months."
Meanwhile, BTC is trading at $85,637.87 on Binance's Tether (USDT) market as of 00:59 on the 28th, down 2.05% from the previous day.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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