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Bitcoin

April

While Bitcoin failed in its attempt at $38,000 last week, BTC continues its horizontal movements. 
At this point, while investors were wondering when BTC, which had a nice rise last week, would rise again, a new report came from Bitfinex. 
In the latest issue of the Bitfinex Alpha Report, analysts stated that BTC has entered a high volatility environment and warned investors to be careful in their crypto strategies. 
Stating that at this point, Bitcoin may take a break from its rise to $ 38,000 for a while, Bitfinex analysts said that on-chain data indicates a decline and that BTC may fall to the $ 31,000 range. 
Analysts stated that the key to understanding BTC's price movements here is the Short-Term Holders' Realized Price (STH RP), which shows the average purchase price of short-term investors. 
<blockquote> 
 “Even at Bitcoin's current levels, the average purchase price for short-term holders (Short-Term Holders' Realized Price (STH RP)) stands at approximately $30,380. 
 This difference between the STH RP and the current market price has reached its most significant level since April 2022. 
 At this point, when looking at historical data, such a movement of STH RP on a monthly basis shows that caution is needed. 
 Historically, when there is a $2000 monthly change in STH RP, a negative change is observed in the Long-Term Holders' Realized Price (LTH RP), which reflects the average purchase price of long-term holders. 
 The combination of positive monthly change in STH RP and negative change in LTH RP suggests that BTC price has reached a local top, and Bitcoin is expected to experience a pullback to test the STH RP level of $30,380. 
 In this context, while STH RP is hovering around $30,380, BTC may return to the range of $30,000 to $31,000.” 
</blockquote> 
Bitcoin continues to trade at $36,570 at the time of writing. 
*This is not investment advice. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/bitcoin-report-from-bitfinex-on-chain-data-gives-a-fall-signal-btc-can-test-these-levels/">Bitcoin Report from Bitfinex: "On-chain Data Gives a Fall Signal, BTC Can Test These Levels!"</a>

Bitcoin Report from Bitfinex: "On-chain Data Gives a Fall Signal, BTC Can Test These Levels!"

Bitcoin Sistemi EN

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