- Bitcoin is showing weakness with a possibility of further price decline.
- The potential for massive Bitcoin sell-offs in the U.S. and uncertain interest rate policies are cited as reasons for the decline.
- In the long term, Bitcoin is expected to rebound after further adjustments.
STAT AI Notice
- 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.
Bitcoin (BTC) has turned bearish, but an analysis suggests it will rebound again.
On the 10th, Avocado, a contributor to the on-chain data analysis platform CryptoQuant, stated, "Bitcoin's price has been declining daily due to the uncertainty of the Federal Reserve's rate cuts and the possibility of massive Bitcoin sell-offs in the United States."
He explained, "The current buy/sell ratio indicates a downward trend. This suggests the possibility of further price declines. Additionally, investors holding Bitcoin for less than 155 days are selling at a loss."
He added, "However, this may be short-term market noise," and "From a long-term perspective, Bitcoin's price will rebound after further adjustments."
Meanwhile, Bitcoin is trading at around $92,800 on the Binance Tether (USDT) market, down approximately 2.5% from the previous day.
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀PiCK News
[Today's Global Trending Coins] AnimeCoin·USDC·Eliza and More
1 hours ago![[Today's Global Trending Coins] AnimeCoin·USDC·Eliza and More](https://media.bloomingbit.io/prod/news/7601ae24-32ab-48f3-8fab-6ce6d834a20c.webp)
UK Treasury: 'Coin Staking is Not Collective Investment'
4 hours ago
[Analysis] "Bitcoin, Now is the Time to Accumulate... Selling is a Foolish Choice"
5 hours ago![[Analysis] "Bitcoin, Now is the Time to Accumulate... Selling is a Foolish Choice"](https://media.bloomingbit.io/prod/news/1f5eaffe-c09f-447e-b097-1af5f9e2d4cc.webp)
[Analysis] "Bitcoin to Rebound After Further Adjustment"
6 hours agoU.S. Treasury Bombshell and 'Trumpflation' Concerns Combine... "Bitcoin Could Drop Up to 25% More" [Kang Min-seung's Trade Now]
6 hours ago![U.S. Treasury Bombshell and 'Trumpflation' Concerns Combine... "Bitcoin Could Drop Up to 25% More" [Kang Min-seung's Trade Now]](https://media.bloomingbit.io/prod/news/c5b0a434-45ac-4400-98b1-aecb541ac601.webp)
Ranking News