- The chief analyst at CryptoQuant reported that the price correction of Bitcoin is continuing.
- As traders' on-chain unrealized profit plummets, an analysis has emerged that the price support level of Bitcoin during the correction process is $88,000.
- Currently, Bitcoin is trading at $94,101.85, down 3.28% from the previous day.
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- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
Julio Moreno, the chief analyst at CryptoQuant, stated on the 8th (local time) via X (formerly Twitter) that "as the Bitcoin (BTC) price correction continues, traders' on-chain unrealized profit has plummeted," adding that "this can be seen as a healthy correction process, with the traders' realized price, which corresponds to the current price support level, being $88,000."
Meanwhile, BTC is trading at $94,101.85, down 3.28% from the previous day, as of 02:59 on the 9th, based on the Binance Tether (USDT) market.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.PiCK News
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