Glassnode: The current price behavior of Bitcoin is very consistent with the previous 2018-2021 cycle
2024-03-31 14:15:59
Blockchain analysis company Glassnode has disclosed in a statement that as the price of Bitcoin has fallen by 15.4% from its historical high of $73000, this price behavior is very consistent with the previous 2018-21 cycle. Data shows that the price of Bitcoin hit $73100 on March 13, fell to a low of $61800 on March 20, and then returned to the $70000 range. When the market encountered resistance, Bitcoin investors had already sold for over $2.6 billion in profits, marking an increase in profit taking events. As prices have fallen from historical highs to recent lows, a total of 2 million Bitcoins have transitioned from a "profitable" state to a "loss making" state.
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