HomeUncategorizedBTC price metric warns that Bitcoin speculators may sell past $33K By Cointelegraph

BTC price metric warns that Bitcoin speculators may sell past $33K By Cointelegraph

June 27, 2023

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© Reuters.

(BTC) may see a “market correction” should BTC price action go much beyond $33,000, research warns.

In the latest edition of its weekly newsletter, The Week On-Chain, analytics firm Glassnode flagged speculative selling risk on the horizon.

Bitcoin short-term holder MVRV chart (screenshot). Source: Glassnode
Bitcoin spent output profit ratio (SOPR) data (screenshot). Source: Glassnode