2 key Bitcoin trading metrics suggest BTC price has bottomed By Cointelegraph – Investing.com
- Date: 13-Dec-2021
- Source: Investing.com
- Sector:Financial Markets
- Country:Middle East
2 key Bitcoin trading metrics suggest BTC price has bottomed By Cointelegraph – Investing.com
(BTC) has been struggling to sustain the $47,500 support since the Dec. 4 crash, a movement that wiped out over $840 million in leveraged long futures contracts. The downside move came after the emergence of the Omicron variant of the Coronavirus and recent data showing U.S. inflation hitting a 40-year high.
While newcomers might have been scared by the 26% price correction over the past month, whales and avid investors like MicroStrategy added to their positions. On Dec. 9, MicroStrategy announced that they had acquired 1,434 Bitcoin, which increased their stake to 122,478 BTC.
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