Bitcoin ETF

Bitcoin

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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-trends-and-market-analysis/" data-wpel-link="internal">Bitcoin Price Trends and Market Analysis</a><br></p>
<p style="text-align: justify"><strong><a href="https://coin-turk.com/piyasalardaki-yangin-durmuyor-btc-eth-ve-xrp-daha-dusecek-mi" data-wpel-link="internal">Bitcoin</a> (<a href="https://coin-turk.com/bitcoin-yarilanmasi-ve-fiyat-tahmini-kripto-uzmanindan-kritik-yorum" data-wpel-link="internal">BTC</a>)</strong> has experienced a sustained decline over the past few days, triggering a reverse growth in the overall profitability of leading cryptocurrencies. Compared to a few weeks ago, the number of profitable addresses on the network is now below 100%. In the last 24 hours, the cryptocurrency’s price has fallen by 1.21% and by more than 3% over the past week, reaching a level of $67,237.24, alongside other key growth metrics also showing a decline.</p> 
<h2 id="daily-active-bitcoin-addresses">Daily Active Bitcoin Addresses</h2> 
<p style="text-align: justify">According to data from the crypto analytics platform <strong>IntoTheBlock</strong>, the token’s price drop has caused a 4.02% decrease in daily active addresses (DAA), falling to approximately 930,730. The number of “In the Money” addresses has reached 50.1 million, accounting for 96.39% of total addresses on the network, according to IntoTheBlock. This marks a significant drop from the 100% recorded when the leading cryptocurrency surged to its all-time high (ATH) of over $73,000 last week.</p> 
<p style="text-align: justify">The number of addresses with no balance stands at 870,100, or 1.67% of the total registered addresses on the network. The break-even point addresses amount to 1.01 million, or 1.94% of the network’s total. For <a href="https://en.coin-turk.com/bitcoin-price-analysis-and-market-dominance-trends/" data-wpel-link="internal">Bitcoin</a> profitability to return to the 100% level, the price may need to retest the range between $68,992.54 and $72,500.92. As IntoTheBlock data indicates, approximately 877,770 <a href="https://en.coin-turk.com/what-do-analysts-think-about-bitcoins-recent-surge/" data-wpel-link="internal">BTC</a> have been accumulated by over 870,000 addresses, a range identified by experts as a resistance point.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-329373 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/btc-2.jpg" alt="" width="1624" height="505"></p> 
<h2 id="bitcoin-analytical-reports">Bitcoin Analytical Reports</h2> 
<p style="text-align: justify"><strong>Bitcoin</strong>‘s rally could be significantly influenced by whale buyers’ actions. Large daily accumulations by <strong>BlackRock</strong> and other spot Bitcoin ETF issuers, along with MicroStrategy doubling its holdings last week, are noteworthy. However, current data from IntoTheBlock shows a 46.98% drop in large transactions valued at $100,000 and above at the time of writing.</p> 
<p style="text-align: justify">Volume has dropped from $116.22 billion recorded on March 13 to $41.32 billion as of March 16. These metrics could indicate low market sentiment. Nonetheless, analysts suggest that this downward trend could lead to a healthy correction that may prompt a recovery in the near term. With the spot Bitcoin ETF and the upcoming halving event, the Bitcoin price could find a level around $65,000.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-price-trends-and-market-analysis/" data-wpel-link="internal">Bitcoin Price Trends and Market Analysis</a></h5>

Bitcoin Price Trends and Market Analysis

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