This On-Chain “Retest” Screams Of Mid-Cycle Bitcoin Correction, More Highs Ahead
On-chain data may show a retest of a Bitcoin indicator that has happened after mid-cycle corrections in the past. If it’s indeed one, more highs could be ahead. Bitcoin Net Unrealized Profit/Loss Retests A Lower Level As per the latest weekly report from Glassnode, the net unrealized profit/loss indicator has just retested the 0.50 level. […]
Related News
Bitcoin has sustained a strong correction since its $19,600 highs seen earlier today. The coin currently trades for $17,300, down approximately 12% from those highs. Some have suggested the coin could drop lower toward $16,000 in the days ahead. Macro charts show that $16,000 is where Bitcoin may find serious support. Bitcoin Undergoes Strong Drop From Previous Highs Bitcoin has sustained a strong correction since its $19,600 highs seen earlier today. The coin currently trades […]
Bitcoin price is still well below its former record, but the top cryptocurrency by market cap at the time of this writing is making another attempt to reclaim lost support near all-time highs set earlier in the year. The “retest” thus far is holding above a key level, and when compared to past peaks in the crypto market, this time almost certainly appears to be different. If the repeating pattern yields different results yet remains to be seen, but a unique outcome this time around would suggest a rally to new highs. The Four Most Expensive Words: “This Time It’s....
Bitcoin price is still trading at more than $25,000 less than the local highs set earlier in the year, and bulls have a lot of ground to reclaim. However, the lost ground might not be so bad after all, as it has brought the current market cycle a lot closer to past bull cycle comparisons, which could shed some light on what’s left for Bitcoin in terms of price action in the months ahead. Bitcoin Collapse Puts Market Cycle On Par With Previous Bull Run Following a sharp more than 55% decline across the board in cryptocurrencies – even the top dog Bitcoin – the market is....
Bitcoin has faced an extremely strong correction since its local highs around $19,500. The leading cryptocurrency currently trades for $17,000 almost exactly, though fell as low as $16,200 just the other day. That means that from its local highs, the leading cryptocurrency was down by over $3,000. Many have not taken this correction well: just […]
If this bull cycle is like 2017 or even 2019, then the majority of investor "FOMO" and associated price gains lie ahead. Bitcoin (BTC) bears thinking that $58,000 was this cycle's top will be sorely disappointed, fresh investment data from past bull markets shows.Compiled by on-chain analytics resource Whalemap, statistics covering BTC buys of between $5 million and $7 million conclude that even at recent all-time highs, Bitcoin was far from a "macro top.""No FOMO in sight" for BTCDuring the 2017 and shorter 2019 bull market, Bitcoin saw mass buy-ins of a similar size — $5-7 million. When....