The Bitcoin metric that flipped green just before $50K BTC price bull run is back

As Cointelegraph reported, research has highlighted Tuesday’s BTC price dip as coming from overleveraged traders who could not withstand selling pressure from young whales.

After the market cleared out those players, optimism has returned over more sustainable price gains.

For on-chain monitoring resource Whalemap, meanwhile, SOPR data likewise hints at the possibility of higher levels returning.

“SOPR around 1 in an up-trending market is good news,” staff commented on the metric’s current readings.

In private comments to Cointelegraph, the Whalemap team added that “a little bit more sideways” should first characterize the market before upside ensues.

Check Also

خلاصه ای از کتاب انقلاب بلاکچین

از انقلاب صنعتی تا اکنون ،جهان، هر روز در حال تغییر است. بشر از زندگی …

دیدگاهتان را بنویسید

نشانی ایمیل شما منتشر نخواهد شد. بخش‌های موردنیاز علامت‌گذاری شده‌اند *