Bitcoin city Santiment Lowe's BTC CryptoQuant Bitcoin city Santiment

Bitcoin [BTC] investors looking for relief might get some after reading this

Reading now: 130
ambcrypto.com

Bitcoin [BTC]’s performance has been sluggish lately as the king coin failed to register upticks during the past few weeks. BTC’s seven-day chart was painted red as its value decreased by more than 7%.

Recently, BTC’s price touched a three-month low, which was followed by a spike in BTC’s hourly negative sentiment spike. This stood as an indication of a bear market.

However, the good news is that several indicators and on-chain metrics suggest the possibility of a trend reversal soon. BaroVirtual, an analyst and author at CryptoQuant, published an interestinganalysis which gave perspective to the higher selling pressure in the market.

In his post he pointed out a scenario where investors holding their assets since six to 12 months are selling their holdings.

Read more on ambcrypto.com
The website financemag.cash is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA