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