Although the move might be considered significant, the BTC price reaction signaled a possible increase in large sell-offs. This inference was a result of the Market Value and Realized Value ratio.
Compared to the BTC trend over the first 44 days of the year, this could be an opportunity to accumulate for short-term gains. Since another value drop followed the liquidations, it signified Bitcoin’s resolve to remain in the red zone or consolidation.In the long term, several analysts seemed not to be interested in shifting their bullish projection. Adam Back mentioned that the next two halvings could propel BTC to a $200 trillion market cap.
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