Bitcoin has dropped from nearly $28,000 to below $26,000 in the past four days after failing to cross a significant support level.
Bitcoin’s price has dropped from over $28,000 to below $26,000 in the past four days, after failing to cross a significant support level, analyst said.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.
The indicator measures the average price at which bitcoin has been acquired by short-term investors who've held their assets for less than 155 days. If the price ofmoves above this line, it generally indicates profitability for these holders, and creates a positive sentiment and a potential bullish trend.
The Grayscale report pointed to on-chain data that showed the share of bitcoin held by short-term holders reached an all-time low in August.
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