📌Over half of Bitcoin's supply is trading below the purchase price
- We've seen a sharp decline in <a>$BTC </a> that has pushed more than half of the circulating coins to trade below their buy-in price, as the price plummeted to around $61,000, losing nearly half its value from the all-time high
- The pressure came with breaking important technical levels and increasing fears following major institutional sell-offs and outflows from Bitcoin-linked investment funds, which have ramped up volatility to its highest levels in months
- Analysts believe the market is in an extended correction phase characterized by choppy movements and weak catalysts, as investors continue to await any factor that might reignite bullish momentum in the market.
- We've seen a sharp decline in <a>$BTC </a> that has pushed more than half of the circulating coins to trade below their buy-in price, as the price plummeted to around $61,000, losing nearly half its value from the all-time high
- The pressure came with breaking important technical levels and increasing fears following major institutional sell-offs and outflows from Bitcoin-linked investment funds, which have ramped up volatility to its highest levels in months
- Analysts believe the market is in an extended correction phase characterized by choppy movements and weak catalysts, as investors continue to await any factor that might reignite bullish momentum in the market.