@semur
Bitcoin balances on ‘knife-edge’ as short-term investors brace for macro events: analyst
Bitcoin sits 9% away from its all-time high of $124,128 on Thursday, as short-term holders face stress and key supports come into play ahead of upcoming U.S. macro data releases.
According to The Block’s price page, bitcoin has fallen over 4.5% in the last month amid rising volatility and monetary policy uncertainty in the United States.
Following the price dip, BTC supply in profit just hit a historically significant threshold of around 90%, The Block's data dashboard shows. Maintaining above this level or slipping below it could determine if Bitcoin soon returns to its peak or retraces, according to a CryptoQuant analyst. “Dropping back below this 90% threshold has very often marked the beginning of a corrective phase, whether short or long term,” the analyst said.
https://www.theblock.co/post/368598/bitcoin-balances-on-knife-edge-as-short-term-investors-brace-for-macro-events-analyst
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