Journalist
Posted:
- Bitcoin’s supply in profit hit 89%, requiring caution from investors.
- The price of Bitcoin was 5.59% higher than the average price at which all coins were bought.
Bitcoin [BTC] climbed above $44,000 just ahead of Christmas, giving its holders and crypto enthusiasts much to cheer.
How things change!
As of this writing, the king coin was trading 161% higher than it was at the same time last year, when sentiment around cryptos was at an all-time low.
The stunning turnaround has rekindled hopes of a better future ahead for the coin in particular and the market in general.
The best part was that the appetite for Bitcoin remained strong. According to AMBCrypto’s analysis of Hyblock Capital’s data, a sentiment of greed prevailed in the market, spurring hopes of more accumulation in the new year.
Source: Hyblock Capital
However, amid the bullishness, an unsettling signal drew the attention of analysts, threatening to apply brakes on Bitcoin’s meteoric rise.
Will weak hands profit-take?
Bitcoin’s supply in profit hit 89%, a level deemed “cautious” by popular on-chain research firm Santiment.
In other terms, the likelihood of investors booking profits increased substantially, possibly resulting in a short-term downward pressure on BTC.
Santiment stated that a ratio in the range of 40-70% was more desirable. However, the current levels merit more prudence from investors leading into the new year.
Source: Santiment
To get a better understanding of the situation, AMBCrypto scrutinized Santiment’s popualar MVRV Ratio indicator.
At press time, the price of Bitcoin was 5.59% higher than the average price at which all coins were bought. Compared to the previous spikes of 16% and 15% during the ongoing rally, this appeared to be a safe level.
Source: Santiment
Read BTC’s Price Prediction 2023-24
Meanwhile, few market experts continued to place their weight behind the world’s largest cryptocurrency. In a statement shared with AMBCrypto, Shivam Thakral, CEO of Indian cryptocurrency exchange BuyUcoin, noted,
“The crucial meeting between Blackrock, Nasdaq, and SEC regarding Bitcoin ETF sent strong positive signals leading to positive market sentiment. As we enter the last week of 2023, the crypto market is gathering more steam to sustain the momentum into 2024.”
Journalist
Posted:
- Bitcoin’s supply in profit hit 89%, requiring caution from investors.
- The price of Bitcoin was 5.59% higher than the average price at which all coins were bought.
Bitcoin [BTC] climbed above $44,000 just ahead of Christmas, giving its holders and crypto enthusiasts much to cheer.
How things change!
As of this writing, the king coin was trading 161% higher than it was at the same time last year, when sentiment around cryptos was at an all-time low.
The stunning turnaround has rekindled hopes of a better future ahead for the coin in particular and the market in general.
The best part was that the appetite for Bitcoin remained strong. According to AMBCrypto’s analysis of Hyblock Capital’s data, a sentiment of greed prevailed in the market, spurring hopes of more accumulation in the new year.
Source: Hyblock Capital
However, amid the bullishness, an unsettling signal drew the attention of analysts, threatening to apply brakes on Bitcoin’s meteoric rise.
Will weak hands profit-take?
Bitcoin’s supply in profit hit 89%, a level deemed “cautious” by popular on-chain research firm Santiment.
In other terms, the likelihood of investors booking profits increased substantially, possibly resulting in a short-term downward pressure on BTC.
Santiment stated that a ratio in the range of 40-70% was more desirable. However, the current levels merit more prudence from investors leading into the new year.
Source: Santiment
To get a better understanding of the situation, AMBCrypto scrutinized Santiment’s popualar MVRV Ratio indicator.
At press time, the price of Bitcoin was 5.59% higher than the average price at which all coins were bought. Compared to the previous spikes of 16% and 15% during the ongoing rally, this appeared to be a safe level.
Source: Santiment
Read BTC’s Price Prediction 2023-24
Meanwhile, few market experts continued to place their weight behind the world’s largest cryptocurrency. In a statement shared with AMBCrypto, Shivam Thakral, CEO of Indian cryptocurrency exchange BuyUcoin, noted,
“The crucial meeting between Blackrock, Nasdaq, and SEC regarding Bitcoin ETF sent strong positive signals leading to positive market sentiment. As we enter the last week of 2023, the crypto market is gathering more steam to sustain the momentum into 2024.”
where to get clomiphene tablets clomid other name where can i buy generic clomid price clomiphene tablete can i purchase cheap clomid without a prescription cost generic clomid prices can i buy cheap clomiphene tablets
The vividness in this piece is exceptional.
Thanks on sharing. It’s outstrip quality.
zithromax 500mg cost – ofloxacin oral order flagyl 200mg generic
buy rybelsus tablets – periactin 4mg cheap cyproheptadine for sale online
order motilium without prescription – buy tetracycline no prescription buy flexeril generic
buy generic azithromycin – order tindamax 300mg online bystolic over the counter
cost augmentin 375mg – atbioinfo.com buy ampicillin paypal
order nexium 40mg online cheap – nexiumtous esomeprazole ca
order coumadin – coumamide buy losartan medication
meloxicam 15mg without prescription – https://moboxsin.com/ buy mobic 7.5mg generic
prednisone 5mg over the counter – https://apreplson.com/ order generic prednisone 40mg
buy amoxicillin pill – comba moxi amoxicillin ca
buy diflucan 200mg generic – fluconazole 200mg brand diflucan 100mg generic
oral escitalopram 10mg – escitapro.com order lexapro 20mg
buy cenforce pills for sale – where can i buy cenforce order cenforce generic
cialis how to use – https://ciltadgn.com/# where to buy cialis
brand cialis australia – where to buy tadalafil online tadalafil 5mg generic from us
how to get ranitidine without a prescription – this order ranitidine pills
viagra cheap thailand – https://strongvpls.com/ legal order viagra over internet
More content pieces like this would make the интернет better. https://gnolvade.com/
This is the compassionate of writing I truly appreciate. https://buyfastonl.com/furosemide.html
I couldn’t weather commenting. Adequately written! https://ursxdol.com/provigil-gn-pill-cnt/
More posts like this would force the blogosphere more useful. https://prohnrg.com/product/atenolol-50-mg-online/
This is the kind of post I find helpful. https://ondactone.com/spironolactone/