Why Did Bitcoin Plunge Under $58,000? On-Chain Data Says This
As an experienced on-chain analyst, I believe that the recent Bitcoin crash below the $58,000 level was potentially caused by large profit-taking from long-term holders (LTHs). The spike in the LTH SOPR, which indicates that these investors were selling coins with significant profits, coincided with the price decline. Today, Bitcoin experienced a significant drop in … Read more