A Tough Bitcoin Price Showdown Between The Bears and The Bulls
Hello friends, today has been a day where there has been a tough bitcoin price confrontation between the bears and the bulls who need to fight short-term sellers who quickly lose profitability when it comes to guessing the bitcoin price analysts usually analyze ECTH short-term holders investors who hold the coin 155 or less.
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But right now we are at a decision point where short-term holders will have the main focus looking simply the ECTH market value indicator at realized value tells us that the value of $26,500 should be a zone of psychological support, the SOPR another very important metric of price sold versus price paid is used to measure profitability.
What today is below 1 so the losses are dominating and despite the fact that there is a large gap between the realized price and the spot, everything seems to indicate that investors are not interested in selling at current rates regardless of whether they are making profits with their individual investments. It usually happens that sellers are out of stock on both sides so be careful because when this happens large movements are expected.
Let's talk about the second cryptocurrency with the most capitalization in the market ethereum finds reserves in the exchange at 5-year lows, a decrease that began in September of last year and that was strengthened in November and December after the fall of FTX according to data from glassnote, the 14.85% of the ether supply is in centralized exchanges compared to the 25 or 26% held in the bull rally of 2021, something that makes sense if we consider that novice investors fled in fright at the first drop in prices, all users who in they mostly used centralized exchanges for their ease of use.
What a large number of investors who continue in the market despite the falls have long opted for hot or cold wallets and since the fall of FTX all those who thought that an exchange of that size would never fall also thought again and they ended up opting for a self-custody wallet.
| Finally, we must be attentive in these last days of the month because you can make a hard movement in the market, just invest with caution. |
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