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Bitcoin’s 10% Drop Shrugged Off – Traders Expect More Big Dips On the Way Up

Bitcoin investors are shrugging off the recent drop in value that saw a loss of over 10.9% on Sunday. A number of speculators believe the price is still very bullish but expect some more big dips along the way. Meanwhile, optimism has been cushioned as onchain statistics show that exchange withdrawals also surpassed deposits on Sunday. This past Sunday, bitcoin (BTC) took a price hit and the entire crypto market followed it’s downward slump from a high of $12,000 to below $10,700 losing 10.9% in value. The sharp drop was quick and even though a decent amount of value was…

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93% of Bitcoin’s Supply Profitable at $11K, ‘Realized Price’ Recovers from Black Thursday

Onchain data shows that bitcoin’s breakout above $11,000 puts 93% of the circulating supply in a state of profit. Additionally, seven-day metrics show that bitcoin’s “realized price” has recovered from the low that took place on March 12. The research and analysis firm Glassnode revealed that when the price of bitcoin (BTC) is over the $11,000 range, 93% of bitcoin in circulation becomes profitable. At the time of publication, BTC has been struggling to hold that momentum as the price has shifted below the $11k range a couple of times on Tuesday. The spike on Tuesday led to a decent…

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