Bitcoin ETF While selling pressure still continues after approvals BTC continues to consolidate.
While investors wonder when Bitcoin will rise again, analysts said negative headwinds for BTC continue.
Speaking to CoinDesk CryptoQuant analysts said further downside risks remain for Bitcoin.
“Many on-chain metrics and indicators indicate that the price correction may not be over, or at least a new rally is still not on the cards.
Short-term investors and large Bitcoin holders are still making significant sales as part of a risk-averse attitude.
Additionally, unrealized profit margins have not fallen enough to drive sellers out. At this point, the sales and decline in Bitcoin may continue.”
FxPro senior market analyst apart from CryptoQuant analysts Alex Kuptsikevich also evaluated Bitcoin.
The analyst stated that systematic sales of Bitcoin continue. BTC’He said that the intraday dynamics in 2018 pointed to more systematic sales.
*This is not investment advice.
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