Unpacking trends in Bitcoin trading volatility

quick take

Bitcoin trading patterns have been unusually stable, mostly fluctuating around $30,000. However, the recent plunge has temporarily pushed the cryptocurrency below $29,000. This volatility, coupled with significant macroeconomic uncertainty, is linked to a sharp drop in Bitcoin in 2022. As a result, many investors are adopting a more cautious stance, predicting a lower Bitcoin price target.

An interesting trend emerged when the price of Bitcoin fell to $29,000. A significant number of short-term holders chose to sell. The decision saw more than 20,000 bitcoins sold at a loss, making him the fourth-largest such deal this year.

Moreover, the marked increase in anxiety among these investors is evidenced by the red arrow indicator, which shows increased selling activity in recent months.

STH sold at a loss: (Source: Glassnode)

A post on unpacking trends in Bitcoin trading volatility first appeared on CryptoSlate.

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