Bitcoin

when

Threshold

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-bitcoin-price-drop/" data-wpel-link="internal">Analyst Predicts Bitcoin Price Drop</a><br></p>
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/bitcoin-gains-ground-with-institutional-investors/" data-wpel-link="internal">Bitcoin</a>’s (BTC)</strong> recent price movements contain some significant signals that worry investors. According to Glassnode <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a>, Bitcoin’s short-term holders (STH) realized price is set at $64,372, which is above Bitcoin’s current value of $64,066. This indicator represents the average cost of investors who bought Bitcoin within the last 155 days, known as STH. This metric is generally used to assess BTC’s short-term market health.</p> 
<h2 id="critical-threshold-in-btc">Critical Threshold in BTC</h2> 
<p style="text-align: justify">When the STH realized price level is breached, the likelihood of a <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market price</a> correction increases. <strong>Bitcoin</strong> falling below this critical support level has historically been a precursor to significant price movements. In 2018, when Bitcoin’s price fell below the realized price of $11,012, the market soon dropped to $8,455. A similar situation occurred at the end of 2021, with Bitcoin’s price falling from $48,962 to $42,306.</p> 
<p style="text-align: justify">These data suggest that Bitcoin may experience a new correction in the coming days. The market value to realized value (MVRV) Long/Short difference metric also supports this possibility. This metric measures the impact of new entries into the Bitcoin market and long-term holders. Currently, this ratio is at 21.16%, indicating that there has not been sufficient new capital entering the market recently, meaning Bitcoin’s price could fall in the short term.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-364367 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/glassnode-3.png" alt="" width="1621" height="880"></p> 
<h2 id="analyst-opinion-on-btc">Analyst Opinion on BTC</h2> 
<p style="text-align: justify">However, the MVRV long/short difference metric also reveals whether a <strong>cryptocurrency</strong> is in a bull or bear market. Positive values indicate that Bitcoin is still in a bull market. Therefore, even if the price drops to $61,000, there is potential for long-term value appreciation. This market fluctuation can present significant buying opportunities for investors. The relative strength index (RSI) also supports these negative expectations. In the 4-hour chart, the RSI value is at 40.87, signaling a downward momentum in the market. RSI is used to evaluate a <strong>token’s</strong> momentum, and values below 50 generally indicate a bearish market.</p> 
<p style="text-align: justify"><strong>Bitcoin’s</strong> complex price movements lead to different interpretations among investors. For instance, an analyst known as Crypto Caesar considers Bitcoin trading below the STH realized price as a buying opportunity, typically indicating a return to an upward trend. Historically, such drops have been considered suitable times for BTFD strategies. In conclusion, although historical data and technical indicators point to a short-term price drop, a potential long-term recovery is also possible.</p> 
<ul class="Summary"> 
 <li>Bitcoin’s recent price movements worry investors with significant signals.</li> 
 <li>Falling below the STH realized price level suggests a market correction.</li> 
 <li>Analysts see potential buying opportunities despite short-term drops.</li> 
</ul> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/analyst-predicts-bitcoin-price-drop/" data-wpel-link="internal">Analyst Predicts Bitcoin Price Drop</a></h5>

Analyst Predicts Bitcoin Price Drop

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