Ethereum Faces Strong Rejectio...
30 May 2023 | 12:49 am
The post Bitcoin Price Trades at a Decessive Point; Short-Term Holders May Suffer Extreme Loss appeared first on Coinpedia Fintech News
Although the crypto markets are painted green, the value of the majority of the tokens trades around the same levels. This may also indicate equal participation of the bulls and the bears as the volatility of the price drops heavily despite a decent volume. It is speculated that this happens at times when the bulls fail to display their strength and the bears are also delaying their action.
A huge rise in short-term trading has been witnessed in recent times, specifically since the markets witnessed a major fallout last year. This highlights the trader’s sentiments, which are filled with uncertainty and fear. Therefore, a new trend has been set up, with the short-term traders extracting profits on every minor spike that has hampered the value of the token and the pace of the rally to a large extent.
Presently, the Bitcoin price appears to be in a decisive phase, and short-term holders could be the primary lens through which to view this correction. Below are a few indicators from Glassnode that justify the probable loss for the short-term holders.