Bitcoin Price Under Pressure? Analyst Explains Why Retreat Below $66,000 Is Bad News

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On the other hand, the BTC price being below the warm supply realized price indicates that a significant percentage of recent investors are currently at a loss, which may potentiate selling pressure and result in a bearish trend.#Bitcoin above the warm supply realized price is a positive sign, while dropping below it may indicate the start of a longer bear market.

Related Reading: ADA At A Crossroads: Approaching $0.3389 Support With Potential For A Deeper Decline As the name suggests, this realized price accounts for warm (relatively recent) supply metrics, as opposed to "hot” (very recent) or "cold” (old) market activity.

This on-chain revelation revolves around the warm supply realized price metric, which is derived from the average purchase price of Bitcoin that has been inactive for one to three months.

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Article Details

Author / Journalist: Opeyemi Sule

Category: Crypto

Markets: United KingdomOmanUnited States

Topics: Bitcoin Bitcoin Btc price BTCUSDT Btc Bitcoin price Glassnode Ali Martinez

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-01 @ 12:00:37 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 410 words

Reading Time: 3 minutes read

Sentences: 65 lines

Sentence Length: 7 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 22319149

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About NewsBTC

Main Topics: Crypto

Official Website: newsbtc.com

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News Last Updated: 14 hours ago

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