Bitcoin Shows Strong Long-Term Conviction Amid Profit-Taking at $70K

Tuesday, 4 June 2024, 06:27
The recent trend of Bitcoin profit-taking around $70,000 reflects a ‘stubbornly bullish’ sentiment in the market. On-chain data indicates that more than 50% of Bitcoin supply remains inactive, showcasing strong long-term conviction among investors. This behavior suggests a positive outlook for the future of Bitcoin despite short-term fluctuations in price.
https://store.livarava.com/4e9f2945-223c-11ef-a3fc-9d5fa15a64d8.jpg
Bitcoin Shows Strong Long-Term Conviction Amid Profit-Taking at $70K

Bitcoin Profit-Taking Dynamics

The recent surge in Bitcoin price has led to profit-taking activities among investors as the cryptocurrency touched $70,000.

Strong Long-Term Conviction

Over 50% of Bitcoin supply remains inactive according to on-chain data, indicating a strong belief in the asset's long-term potential.

Do you want to advertise here? Contact us

Related posts

Do you want to advertise here? Contact us
Do you want to advertise here? Contact us
Newsletter

We carefully select news from the world of finance and publish it for our users. We understand the importance of reliable and up-to-date information for people in the financial world. Do you want to receive news in a convenient format and always have it at hand — subscribe to our newsletter and make your analytical work more effective.

Subscribe