Analysis: Bitcoin falls into the range of 70,000 to 80,000 USD, or may face severe fluctuations.

PANews, April 9 news, Bitcoin price has recently fallen below $75,000 twice, a significant drop from the historical high of $109,000 set on January 20. Glassnode data shows that Bitcoin is currently in a “gap zone” between $70,000 and $80,000, as the price previously rose rapidly in this range without sufficient consolidation or pullback. UTXO data shows that less than 2% of the Bitcoin supply in this range means that there is less Bitcoin circulating in the market and the price may be more volatile. In addition, about 25% of Bitcoin holders are currently in the red, mainly short-term investors who have bought in the last 5 months. According to the analysis, bitcoin needs to stabilize in this price range in order to get out of the next clear direction.

BTC-1.91%
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