Bitcoin Crashed Below $55,000 But Traders Are Not Fearful, Why?
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Bitcoin recently broke through critical support levels at $60,000 and $56,500, sparking concerns. Despite this drop, on-chain analysts suggest that fear hasn't taken over the market yet. Using indicators like the Bitcoin Daily Realized Profit Loss ratio, they claim there is no significant panic selling. While Bitcoin could fall to $47,000, the market sentiment appears calmer compared to three weeks ago when Bitcoin was at $70,000. Some analysts see this as a buying opportunity, driven by factors like spot Bitcoin ETFs and regulatory clarity in the US. New investor addresses will be crucial for stability.
Source: www.newsbtc.com ↗
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