- About 95% of the supply was in profit at press time.
- A correction might follow once Bitcoin breaches $60k.
Bitcoin [BTC] lifted 9.31% in the last 24 hours to breach $57k for the first time since November 2021. Yes, the same November 2021 during which the king coin sailed to its all-time highs (ATH).
The market most likely reacted to MicroStrategy’s acquisition of 3,000 Bitcoins during the month of February, taking its overall Bitcoin holdings to a whopping 193,000 Bitcoins. Note that MicroStrategy is the largest corporate owner of Bitcoin.
Bitcoin rises from the ashes
The world’s largest digital asset was up more than 200% from its bottom during the crypto winter of 2022 – the time when sentiment around digital assets hit a rock bottom.
However, navigating through the challenging times, Bitcoin now stands as one of the most lucrative assets that one could include in their investment portfolio.
As of this writing, the leading crypto was exchanging hands at $56k, according to CoinMarketCap, with experts pinning their hopes high on the magical $69k figure.
About 95% of the supply was in profit at press time, as per AMBCrypto’s assessment of Santiment’s data. With an eye on $69k, the network was inching closer to 100% profitability.
Source: Santiment
Watch out for this levels
Noted crypto market analyst Ali Martinez dubbed this phase as one of “hope”, a market psychology when investors start believing that the rally would continue. His advice to investors – take any correction as an opportunity to buy the dip.
Well, corrections are inevitable as investors look to profit-take, aren’t they? But how soon will the next come?
A researcher and verified author on CryptoQuant predicted a macro correction once Bitcoin’s supply in profit exceeds 96%. The forecast was based on historical trends.
“I think we can assume that soon, the price will rise to the level of 55-60K or even form a new ATH, after which, the market will go into a correction, at the end of which a bull rally will begin.”
Read BTC’s Price Prediction 2024-25
The rally spurred a 8% rise in Open Interest (OI) in Bitcoin futures market, according to AMBCrypto’s analysis of Coinglass’ data.
In fact, the OI, a proxy for total money invested in the derivatives market, was at an ATH of $25.51 billion as of this writing.
Source: Coinglass
- About 95% of the supply was in profit at press time.
- A correction might follow once Bitcoin breaches $60k.
Bitcoin [BTC] lifted 9.31% in the last 24 hours to breach $57k for the first time since November 2021. Yes, the same November 2021 during which the king coin sailed to its all-time highs (ATH).
The market most likely reacted to MicroStrategy’s acquisition of 3,000 Bitcoins during the month of February, taking its overall Bitcoin holdings to a whopping 193,000 Bitcoins. Note that MicroStrategy is the largest corporate owner of Bitcoin.
Bitcoin rises from the ashes
The world’s largest digital asset was up more than 200% from its bottom during the crypto winter of 2022 – the time when sentiment around digital assets hit a rock bottom.
However, navigating through the challenging times, Bitcoin now stands as one of the most lucrative assets that one could include in their investment portfolio.
As of this writing, the leading crypto was exchanging hands at $56k, according to CoinMarketCap, with experts pinning their hopes high on the magical $69k figure.
About 95% of the supply was in profit at press time, as per AMBCrypto’s assessment of Santiment’s data. With an eye on $69k, the network was inching closer to 100% profitability.
Source: Santiment
Watch out for this levels
Noted crypto market analyst Ali Martinez dubbed this phase as one of “hope”, a market psychology when investors start believing that the rally would continue. His advice to investors – take any correction as an opportunity to buy the dip.
Well, corrections are inevitable as investors look to profit-take, aren’t they? But how soon will the next come?
A researcher and verified author on CryptoQuant predicted a macro correction once Bitcoin’s supply in profit exceeds 96%. The forecast was based on historical trends.
“I think we can assume that soon, the price will rise to the level of 55-60K or even form a new ATH, after which, the market will go into a correction, at the end of which a bull rally will begin.”
Read BTC’s Price Prediction 2024-25
The rally spurred a 8% rise in Open Interest (OI) in Bitcoin futures market, according to AMBCrypto’s analysis of Coinglass’ data.
In fact, the OI, a proxy for total money invested in the derivatives market, was at an ATH of $25.51 billion as of this writing.
Source: Coinglass
Can you be more specific about the content of your article? After reading it, I still have some doubts. Hope you can help me.
Your point of view caught my eye and was very interesting. Thanks. I have a question for you.
I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article.
Your point of view caught my eye and was very interesting. Thanks. I have a question for you. https://www.binance.com/ar/register?ref=V2H9AFPY
get clomid pills can i buy cheap clomid without dr prescription can i purchase cheap clomiphene without rx clomiphene prescription uk buying clomiphene without dr prescription cost cheap clomiphene pills where to get clomiphene without prescription
Thanks on putting this up. It’s well done.
The thoroughness in this piece is noteworthy.
oral azithromycin 500mg – tinidazole drug flagyl medication
buy motilium 10mg without prescription – domperidone 10mg canada generic cyclobenzaprine 15mg
inderal drug – order plavix 75mg cheap methotrexate 2.5mg
augmentin pills – https://atbioinfo.com/ ampicillin for sale online
esomeprazole oral – https://anexamate.com/ esomeprazole ca
coumadin 5mg price – coumamide purchase losartan pills
buy meloxicam tablets – mobo sin meloxicam brand
order deltasone 20mg – corticosteroid order prednisone 20mg without prescription
fda approved over the counter ed pills – fastedtotake.com buy ed pill
cost amoxicillin – combamoxi cheap amoxil online
fluconazole usa – click order fluconazole generic
cenforce 100mg tablet – https://cenforcers.com/# cenforce 50mg brand
cialis side effect – https://ciltadgn.com/ tadalafil (megalis-macleods) reviews
order zantac 300mg for sale – aranitidine order zantac
online cialis – cialis at canadian pharmacy cialis blood pressure
Thanks on sharing. It’s outstrip quality. lasix efectos secundarios
buy viagra online to canada – https://strongvpls.com/ buy viagra uk boots
Thanks recompense sharing. It’s outstrip quality. https://ursxdol.com/amoxicillin-antibiotic/
I’ll certainly bring back to skim more. https://prohnrg.com/product/acyclovir-pills/
Proof blog you be undergoing here.. It’s obdurate to espy elevated worth belles-lettres like yours these days. I honestly comprehend individuals like you! Withstand guardianship!! fildena douleur
This is the tolerant of advise I turn up helpful. https://ondactone.com/simvastatin/
With thanks. Loads of erudition!
how to buy sumycin
The thoroughness in this break down is noteworthy. http://furiouslyeclectic.com/forum/member.php?action=profile&uid=24582
buy dapagliflozin 10 mg online cheap – buy cheap forxiga dapagliflozin price