Reasons Behind the Potential Bitcoin Correction Before the Halving
Thursday, 14 March 2024, 20:00
Bitcoin's Potential Correction Before Halving
Bitcoin's recent surge to $73,000 has everyone talking, but signs suggest a potential downturn on the horizon.
Bitcoin Whales Are Booking Profits
Short-term holders are in a 70% profit position, pointing to a possible sell-off. Bitcoin whales reducing holdings could accelerate a downward trend.
BTC Price Prediction: A Dip Ahead
The MVRV Pricing Bands indicate a price correction to test the 2.4 MVRV level, possibly at $61,700.
Despite these bearish signals, ETF accumulations represent a bullish factor that could counteract the potential downturn.
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.