💥Over 533,330 BTC Addresses Bought At the Top Above $70,180! 👻😕
Are those who FOMO into $BTC doomed to get rekt? Buying at the top and selling at the bottom will only get noobs destroyed in this market!🤷
More than 533,330 Bitcoin addresses jumped in at sky-high prices above $70,000, according to on-chain data. Now, with the latest dip, these investors are facing potential losses.
Cost Basis Insights
Market analyst Ali reveals that a whopping 382,000 addresses acquired 275,450 BTC at levels between $64,743 and $66,700. With Bitcoin currently trading above this range, these investors are sitting on profits, but their sensitivity to price retests could shape the market dynamics.
Support and Resistance
The $64,743 to $66,700 range, dense with investors, could serve as a crucial support zone if breached. Conversely, the $70,180 to $71,340 range, where 533,330 addresses bought in, might act as a formidable resistance point. These new buyers, driven by FOMO, could quickly exit at break-even during price retests, potentially causing further volatility.
Market Outlook
Bitcoin's recent correction has brought its spot price to around $67,900, highlighting the market's sensitivity to price movements.
Do not FOMO into the market! Do your own research before you jump in.
