Bitcoin has surged back to the $63,000 mark today, yet the largest cryptocurrency continues to face resistance as it attempts to climb higher. A key factor contributing to this struggle is the significant number of Bitcoin holders who purchased their assets between the current price and approximately $65,000. You may have noticed Bitcoin facing repeated rejections as it attempts to move higher. Here’s why: 3.5 million addresses acquired Bitcoin between the current price and ~$65k, and they are currently holding at a loss. In this uncertain market, these addresses generate… pic.twitter.com/cCGmZv2MHu — IntoTheBlock (@intotheblock) May 14, 2024 These 3.5 million
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