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Though Many Are Selling Bitcoin At A Loss, The Bottom May Not Be There: Analysis

                                                            Die Analysten von CryptoQuant teilten mit, dass viele Bitcoin-Investoren in letzter Zeit mit Verlust verkauft haben, da der Preis des Vermögenswerts weit von den höchsten Niveaus von vor einem Jahr entfernt ist.

However, the percentage of investors selling their holdings now may not be enough to mark a bear market bottom.

  • Citing the aSOPR (adapted SOPR), which works similarly to the standard SOPR but excludes all BTC transactions with a lifespan of less than a year, CryptoQuant’s analysis suggested that many investors are now selling their Bitcoin holdings sell at a loss.
  • As such, this could provide a good narrative for the primary cryptocurrency finally bottomed out after last year’s massive drop in prices.
  • However, the strategist warned that the situation is not that simple, at least according to another metric – UTXO.
  • Unspent transaction output (UTXO) is the amount of underlying cryptocurrency (BTC in this case) left over after a transaction. CryptoQuant claimed that 70% of the UTXO is still profitable, but it has been well under 50% in recent bear markets.

“Most of the people who are now selling at a loss are relatively new entrants. The real bottom comes when more than half of investors lose money throughout the cycle, including this one.” – reads the analysis.
Though Many Are Selling Bitcoin At A Loss, The Bottom May Not Be There: Analysis, Crypto Trading NewsBitcoin price and UTXO. CryptoQuant

  • Trading at $16,500 means Bitcoin has been down since its all-time high down about 75% from last November. However, another popular crypto analyst recently warned that if the asset mimics previous bear markets and actually finds a bottom, it could fall further to as low as $9,500.

Source: Crypto News Deutsch

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