HomeUncategorizedBTC price may need a $24.4K dip as Bitcoin speculators stay in profit By Cointelegraph

BTC price may need a $24.4K dip as Bitcoin speculators stay in profit By Cointelegraph

May 2, 2023

[ad_1]



(BTC) has room to drop below $25,000 to flush out a recent influx of speculators, research shows.

In the latest edition of its weekly newsletter, “The Week On-Chain,” analytics firm Glassnode flagged the ongoing influence of “short-term holders” (STHs) on BTC price action.

Bitcoin STH-MVRV chart. Source: Glassnode
Bitcoin STH supply profit/loss ratio annotated chart (screenshot). Source: Glassnode
Bitcoin Young Supply Net Position Change annotated chart (screenshot). Source: Glassnode