Bitcoin Faces “Healthy but Fragile” Consolidation Amid Slowing Profitability and Seller Exhaustion, Glassnode Reports
Main Idea
Bitcoin is undergoing a 'healthy but fragile' consolidation phase as profitability slows and seller exhaustion sets in, with liquidity concentrated around the $115,000 to $120,000 support zone.
Key Points
1. Bitcoin's profitability is slowing, leading to a consolidation phase described as 'healthy but fragile'.
2. Seller exhaustion is contributing to the current market conditions.
3. Liquidity is concentrated in the critical support zone between $115,000 and $120,000, particularly near $115,000.
4. This liquidity concentration is impacting short-term price movements.
Description
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