Wednesday, November 29, 2023

Bitcoin may need $1B more on-chain losses before new BTC price bottom By Cointelegraph

Bitcoin might have $1B extra on-chain losses earlier than new BTC worth backside

(BTC) hodlers could have to triple their on-chain losses for BTC worth to place in a macro low.

In accordance to market analysis agency Baro Digital, the 2022 bear market just isn’t but harsh sufficient to match historic downtrends.

Bitcoin shifting revenue and loss (MPL) annotated chart. Supply: Baro Digital/ Twitter
drawdown from all-time highs chart. Supply: Glassnode
Bitcoin provide % held in revenue chart. Supply: Glassnode