Bitcoin's Price Drop: Long-Term Holders Profit Taking & Upcoming U.S. CPI Data Analysis

Wednesday, 10 April 2024, 10:38

Analysts observe a significant profit taking by long-term Bitcoin holders as the price falls below the $69,000 mark. Despite this, recent weeks have seen a cooling off effect, fueling hopes for a bullish trend in the future.
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Bitcoin's Price Drop: Long-Term Holders Profit Taking & Upcoming U.S. CPI Data Analysis

Bitcoin Price Movements

One analyst noted a spike in profit taking by long-term holders at the $73,000 level.

Bullish Outlook

This cooling down phase in recent weeks is supporting a bullish bias for Bitcoin's future performance.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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