Analyst: On-chain data indicates that bitcoin selling pressure is easing and the market is buying the dip
ChainCatcher news, CryptoQuant analyst Axel posted on social media that the proportion of bitcoin supply in profit (30-day change) has rebounded from -12% to -6%, indicating that selling pressure is weakening and the market is buying the dip.
Although the current proportion of profitable coins is still lower than the level a month ago, the decline has significantly narrowed—negative momentum is weakening.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Huaying Group AlloyX rings the opening bell on Nasdaq under the new ticker "AXG"
Tom Lee: Continued Surge in Ethereum On-Chain Activity Provides Solid Basis for Major Market Movements by Year-End
Trending news
MoreCrypto prices
More
