Bitcoin price drops amid capitulation fears – Is a BTC bear trap forming?
Photo: AMBCrypto
Rising Bitcoin [BTC] unrealized profits have raised FUD around a potential capitulation. From a technical lens, this doesn’t seem too far-fetched. Bitcoin fell over 4% this week, after a three-week rally that sent BTC from $75k to $87k, putting early buyers in profit, as highlighted in a CryptoQuant report. According to the report, the critical level, in this case, has been identified at $74.6k, which is Bitcoin’s Short-Term Holder Realized Price. Holding above this level would keep the early bull-market structure intact.
Source: AMBCrypto
