Rally

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/high-alert-for-crypto-investors-as-bitcoin-shows-potential-turnaround-signs" rel="noopener noreferrer nofollow">High Alert for Crypto Investors as Bitcoin Shows Potential Turnaround Signs</a><br></p>
<p style="text-align: justify">The <a href="https://en.bitcoinhaber.net/metaverse-coins-rise-amid-crypto-market-dip-spotlight-on-sand-and-axs" rel="noopener noreferrer nofollow">cryptocurrency</a> market is facing a potential downturn with <a href="https://en.bitcoinhaber.net/bitcoin-at-a-crossroads-as-investors-anticipate-key-monthly-close" rel="noopener noreferrer nofollow">Bitcoin</a> possibly leading a corrective movement that may result in altcoins suffering losses beyond the 50% threshold. Although Bitcoin recently witnessed a rise in its value, a concerning trend has emerged as the percentage of profitable Bitcoin investors is nearing a complete 100% level, a figure that historically precedes significant price drops.</p>
<h2 id="bitcoin-s-fragile-rally">Bitcoin’s Fragile Rally</h2>
<p style="text-align: justify">Despite the recent recovery of Bitcoin’s price to $71,500, the increase in the rate of profitable investors to nearly 100% is reminiscent of the November 2021 all-time high, shortly before a sharp 43.29% decrease in value. Such trends often hint at a forthcoming wave of profit realization, possibly leading to a sell-off that could be initiated by a close below the $68,000 benchmark.</p>
<h2 id="whales-and-market-peaks">Whales and Market Peaks</h2>
<p style="text-align: justify">A closer look at Bitcoin’s address activity reveals a declining number of addresses holding over 1,000 <a href="https://en.bitcoinhaber.net/new-challenges-arise-for-bitcoin-and-crypto-markets-says-coinbase-study" rel="noopener noreferrer nofollow">BTC</a>, suggesting that some large-scale holders are liquidating their positions. Even though the current figure is still higher than that of January, the ongoing decrease may signal that Bitcoin has reached, or is nearing, its current peak and may be on the brink of a descent.</p>
<p style="text-align: justify">The projection that Bitcoin has been climbing a demand-driven peak over the past two to three months supports the theory of an impending decline. This anticipated downward trend aligns with past patterns, challenging the notion of an unending ascent. Technical indicators, though still bullish, also suggest the possibility of a price direction reversal before Bitcoin can aim for new highs.</p>
<p style="text-align: justify">Market dynamics, including net outflows on ETF days or the spread of negative news, could further impact Bitcoin’s price direction. If the cryptocurrency fails to hold the $67,000 support level, we might witness a tumble to $52,000. On the flip side, overcoming these headwinds could propel Bitcoin’s price to reach $76,000 or even $80,000.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/high-alert-for-crypto-investors-as-bitcoin-shows-potential-turnaround-signs" rel="noopener noreferrer nofollow">High Alert for Crypto Investors as Bitcoin Shows Potential Turnaround Signs</a></h5>

High Alert for Crypto Investors as Bitcoin Shows Potential Turnaround Signs

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