Bitcoin price collance with $ 58 thousand to $ 43 thousand. Reset the cryptocurrency indicators, having prepared the soil for a new rally, consider in GlassNode
Bitcoin's price drop is below $ 45 thousand. It is a positive signal for cryptocurrency, since the market thus gets rid of weak players. At least so consider the analysts Glassnode.
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In his weekly digest, specialists looked at how the Bitcoin's onschecan indicators were shown after a protracted rally. Thus, the coefficient of the corrected spent output profit of Bitcoin (English asopr) for the first time in 2021 fell below the mark of 1.0, reaching the value of 0.988.
When the coefficient falls below 1.0, it means that Kryllers cryptocurrency sell coins at a loss. Low ASOPR values also mean that it has been spent less than an old and high-catch coins. In other words, long-term Hollows remains confidence in the further growth of cryptocurrency prices.
New investors come to the Bitcoin market
According to Glassnode, the market has an influx of "new retail investors". One example is increased attention to accounts and subscriptions on cryptocurrency exchanges.
Thus, the fall of the ASOPR coefficient can be the first intrawephous indicator of "panic sales" with new participants. The previous drop from $ 42 thousand. So did not reset the coefficient due to bovine news from the Tesla.
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However, the ASOPR fall below zero does not mean that the market has joined the Bear Trend. According to Glassnode, "This time everything can be different." To confirm its theory, experts refer to the continued reduction in market liquidity.
According to analysts, the trend of seizures for long-term storage suggests that Bitcoin began to be considered as an important macroactive. In Glassone recognize: in this correction there is still where to fall. However, despite the fact that the metrics are reset out, the demand from long-term investors remains on the market, experts summed up.
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