Bitcoin’s 10 days of selling: Volatility is here, what should you do?

The past ten days saw an uptick in selling pressure ahead of the halving as uncertainty set in. Long-term holders contributed to this pressure.BTC has not crossed above this zone, heightening the chances of volatility in the coming days.The Spent Output Profit Ratio reflects the degree of realized profit and loss for all coins moved on-chain.

It is measured as the ratio of the USD value of Bitcoin’s spent outputs at the spent time, or realized value, to the spent outputs at the created value.The descending trendline from a decade ago showed that a potential market top was upon us. The possibility of a deeper Bitcoin correction was present due to the metric’s firm rejection from this trendline.The short-term SOPR deals with Bitcoin alive for over one hour but less than 155 days. The STH SOPR fell to 0.

Comparing it with the 2020 bull run, the metric did not drop below zero after September. The halving for that cycle was in May, and a correction in August saw this ratio fall below 1.The daily chart showed that Bitcoin was trading within a range since March. The higher timeframe trend and market structure were firmly bullish.

However, the RSI has meandered between 40 and 60 values in the past month, showing a lack of strong momentum. The OBV was also unable to steer clear of the highs it made in mid-March. Encouragingly, it has crept higher in the past ten days to reflect increased buying pressure. Overall, a price correction remained possible.Akashnath Sumukar works as a Senior Journalist at AMBCrypto. Based in Chennai, India, he has been an avid follower of the cryptocurrency market since Bitcoin’s boom and bust cycle of 2017. A graduate in Chemical Engineering, he is an expert in technical analysis.

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin Volatility Becomes More Intense in US Compared With AsiaAnother day, another big swing in Bitcoin to enliven a relatively slow Monday on Wall Street. This time, the digital asset surged 7% to retake $70,000, the latest sign that pronounced Bitcoin moves increasingly fall in US hours.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Crypto volatility spikes following KuCoin charges, Bitcoin consolidates below $70kThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Bitcoin’s Implied Volatility Rises as Nerves Fray Before HalvingOne of the options market’s closely watched indicators is starting to show that speculators are getting nervous ahead of a once-every-four-years Bitcoin code adjustment that has been bullish for the cryptocurrency in the past.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Bitcoin: Should you expect more volatility ahead of the halving?The implied volatility for Bitcoin [BTC] options contracts expiring in April increased significantly from 62% to 75% over the weekend.
Source: CryptoAmb - 🏆 22. / 68 Read more »

Exec says upcoming Bitcoin halving is on a ‘different scale’ as…Bitcoin typically sees price dips post-halving, followed by gradual recoveries to reach new highs historically.
Source: CryptoAmb - 🏆 22. / 68 Read more »

Wall Street Seizes Bitcoin Volatility With Leveraged, Short ETFsThe frenzy surrounding the launch of spot Bitcoin exchange-traded funds has yet to lose steam as Wall Street’s latest entrant offers supercharged versions of such products.
Source: BNNBloomberg - 🏆 83. / 50 Read more »