2024

Bitcoin

when

While Bitcoin continues its horizontal movements in recent days, it has been fluctuating between $ 51,000-52,000.
While these fluctuating movements of BTC diminished investors' expectations for a rally, they also fueled speculation that a major sales wave might occur.
At this point, Lookonchain's post also supported speculation that there may be a sales wave in Bitcoin.
Because Lookonchain shared IntoTheBlock's data and warned investors about a possible decline in the short term.
According to data from IntoTheBlock, approximately 848,390 addresses recently purchased approximately 481,710 BTC (equivalent to $25 billion) at an average price of $52,125.
Stating that these addresses are currently at a loss, Lookonchain said that investors may create selling pressure on the price when these positions reach the break-even point.
<blockquote>
 “IntoTheBlock data shows that 848.39k addresses purchased approximately 481.71k BTC (worth $25 billion) at an average price of $52,125.
 “These addresses are currently at a loss and may create selling pressure on the price when their positions reach the breakeven point.”
</blockquote>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Data from <a href="https://twitter.com/intotheblock?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@intotheblock</a> shows that 848.39K addresses bought ~481.71K <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($25B) at an average price of $52,125.
 These addresses are currently at a loss and may generate selling pressure when their positions reach breakeven.<a href="https://t.co/DsTpEwOO9b" rel="noopener noreferrer nofollow">https://t.co/DsTpEwOO9b</a> <a href="https://t.co/87Rthk8wGC" rel="noopener noreferrer nofollow">pic.twitter.com/87Rthk8wGC</a>
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1759858922725527610?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 20, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
At the time of writing, Bitcoin is at $52,194, which is very close to the average buy zone of $52,125. At this point, investors need to be careful. Because, according to IntoTheBlock data, BTC price is at a point where correction may occur.
However, although this data signals a sales pressure and correction, it does not mean that Bitcoin will fall. At this point, do not make your investment decisions based on a single data or report. These data are helpful data that are not accurate, have a margin of error, and have never been proven to be 100% accurate. Make your investment decisions based on your own research.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/intotheblock-warned-bitcoin-investors-according-to-data-btc-may-experience-a-significant-correction-from-this-level-heres-why/" rel="noopener noreferrer nofollow">IntoTheBlock Warned Bitcoin Investors: According to Data, BTC May Experience a Significant Correction from This Level! Here's Why!</a>

IntoTheBlock Warned Bitcoin Investors: According to Data, BTC May Experience a Significant Correction from This Level! Here's Why!

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