Bitcoin Twitter flips bearish, community responds
Prices of $42,000 per Bitcoin were more than enough ammunition for well-known Bitcoin bears to reload.
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Prices of $42,000 per Bitcoin were more than enough ammunition for well-known Bitcoin bears to reload.
The bearish crossover between Bitcoin's 20-day and 200-day exponential moving averages hints at a drop toward the $40,000-$42,000 area.
The analytics provider reported that long-term BTC holders are reducing their spending, and adding to positions.
The latest BTC price jump above $65,000 has all the signs of a classic bullish breakout.
The number of "hodled" and presumably lost Bitcoin tokens continues to surge in sync with the BTC price.
The report also found that one-tenth of all Bitcoin miners control 90% of network hash rate.
The world's leading payment services provider processed $145.60 million worth of Bitcoin trades on the day BTC rallied to its record high of $67,000.
Bitcoin price increases will also be less dramatic moving forward, the report suggests.
Open Interest surged to $3.22 billion Thursday to levels not seen since February.
Tesla's Bitcoin stash is now worth $1 billion more than when Elon Musk approved the purchase in February.