Bitcoin (BTC) Price Analysis As Crypto Market Recovers Mid-June
Bitcoin (BTC) Price Trends Market Intelligence platform Santiment shared its latest insight highlighting the rise in BTC whale transactions and the contrasting responses to Blackrock and SEC lawsuits. Additionally, concerns regarding being altcoin heavy have been prominent, with multiple FUD-causing stories emerging. advertisement At the same time, Glassnode’s Analysis reveals that while Bitcoin ’s SOPR resides in a profit-driven regim e, recent undercuts pose a test to the prevailing trend. Market participants, on average, are transacting at a loss, indicating potential weakness if the profit-driven regime isn’t reclaimed. They tweeted: The current undercuts suggests market participants are on aggregate, transacting at a loss. Failure to reclaim the profit driven regime could suggest further market weakness, whilst reclamation of the trend would infer market strength. Recommended Articles