Unrealized profit metrics on the bitcoin chain could trigger further selling
2024-07-06 19:09:36
Analyst Axel Adler Jr posted on the X platform that the average investor has now made 84% of unrealized profits from his bitcoin investments. The price is close to the average of $52,200 (PR Bands) - this will reduce unrealized profits by about 14%, and investors may choose to take profits for fear of further price declines. It also said that the current price level to watch is $46,400, which is the average buying price of bitcoin in the past year.
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