Source: Michael van de PoppeFellow analyst Jelle shared similar sentiments, saying that Bitcoin’s close above $79,000 on April 7 after dropping as low as $74,400 was impressive compared to how equities performed.“Waiting for the dust to settle - expecting the price to move higher once that happens.”Related: Bitcoin may rival gold as inflation hedge over next decade — Adam BackBitcoin’s long-term holders’ activity spells doom for BTC priceData from onchain analytics platform CryptoQuant now shows that the long-term holders (LTHs) — individuals and entities who have held Bitcoin for more than 155 years — could be preparing to sell their coins, particularly after the latest crash.
Source: Cointelegraph/TradingViewMN Capital founder Michael van de Poppe had earlier asserted that Bitcoin needed to retest this zone “before going back upward.”“Bitcoin attacking $80,000 is a strong sign,” said van de Poppe in another X post on April 8, adding:“I don’t know whether we’ll be having another drop or whether we’ve seen it all.”BTC/USD daily chart.
There was a massive spike in this metric on April 7, signaling that the old coins are waking up, which is historically a bearish sign. A chart posted by a CryptoQuant contributor, IT Tech, in one of its “Quicktake” blog posts showed that when the metric spiked on April 2, Bitcoin price dropped from $88,000 to $81,000.
or
Share This Story
Article Details
Author / Journalist: Cointelegraph by Nancy Lubale
The story "Bitcoin relief rally fizzles as White House confirms 104% China tariffs — Will BTC fall to new lows?" has 497 words across 19 sentences, which will take approximately 3 - 5 minutes for the average person to read.
Which news outlet covered this story?
The story "Bitcoin relief rally fizzles as White House confirms 104% China tariffs — Will BTC fall to new lows?" was covered 2 weeks ago by Coin Telegraph, a news publisher based in United States.
How trustworthy is 'Coin Telegraph' news outlet?
Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United States and publishes an average of 6 news stories per day.
It's most recent story was published 8 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Negative, indicating that people regard this as "bad news".
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
