What's in store for Bitcoin after a week of grim losses?
“GDP & FED coming up. Markets are pricing in reality in which 25bps is a likelihood. Waiting for a clear reclaim of $27,800 or bull. divs in $26,800 area for longs on Bitcoin.”It is no secret that the past week’s BTC price action spooked many a less experienced trader, and data proves it., younger coins being sent to exchanges at a loss increased sharply last week.
These STH realized losses suggest increasing panic, LTH realized losses also increasing among those moving funds to exchanges.Separate data fromBitcoin exchange balance chart. Source: Coinglass “With many traders FOMO'ing in Bitcoin above $30k and Ethereum above $2k this past week, loss transactions have mounted as markets pulled back,” it“Since Thursday, traders are moving coins below prices they obtained them at 3 times as often as above.”Analyst:"Smart money is done accumulating BTC"
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