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<ul class="news-points"> 
 <li>Bitcoin re-enters the $50K level for the first time after losing it in 2021.&nbsp;</li> 
 <li>Analysts have spotted bearish signals amid the market’s bullish frenzy.</li> 
 <li>BTC’s current price is reportedly not an ideal entry, targeting $45,500.</li> 
</ul> 
In the last 24 hours, <a href="https://coinedition.com/what-is-bitcoin-everything-you-need-to-know/" target="_blank" rel="noreferrer noopener">Bitcoin (BTC)</a> hit a significant milestone for the crypto market, reclaiming the $50,000 mark. This return to the $50K level marks the first instance of BTC re-entering the range after losing it in 2021.&nbsp; 
Moreover, the surge represents a noteworthy recovery from its recent low point of approximately $38,700 recorded last month. Expectedly, Bitcoin’s trajectory has bolstered the broader crypto market, with other prominent projects like Solana (SOL) and <a href="https://coinedition.com/what-is-ethereum-complete-guide-to-the-2nd-largest-blockchain-project/" target="_blank" rel="noreferrer noopener">Ethereum (ETH)</a> registering notable 9.4% and 7.62% weekly gains at press time, respectively. 
Meanwhile, analysts have spotted bearish signals amid the Bitcoin-led bullish frenzy rocking the market. Woominkyu, a verified author and community manager at the on-chain analytics platform CryptoQuant, recently highlighted the potential direction of the market. 
Woominkyu pointed out that the Spend Output Pro…
The post <a href="https://coinedition.com/btc-massive-sell-off-looms-after-hitting-50k-analyst/">BTC Breaks Above $50K, On-Chain Data Suggests Massive Correction Looming</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

BTC Breaks Above $50K, On-Chain Data Suggests Massive Correction Looming

Coin Edition

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