Friday, December 2, 2022
 

Bitcoin (BTC) Price Drops Almost 10% Over the Last 24 Hours

  • Glassnode data shows that BTC’s percent supply last active for more than five years is at an all-time high.
  • At the moment, BTC trades at $20,267.15 after dropping slightly over 9%.
  • The daily bullish EMA cross on BTC’s chart was short-lived following the latest price drop.

On-chain market intelligence Glassnode took to Twitter on September 14 to share some of the latest statistics relating to the crypto market leader, Bitcoin (BTC).

According to the post, “BTC’s Percent Supply Last Active 5+ Years” has reached an all-time high (ATH) of 24.739%.

CoinMarketCap, the crypto market tracking website, shows that BTC is currently trading at $20,267.15 after a 9.37% drop in price over the last 24 hours. At this time, BTC also established a low of $20,062.67.

BTC’s market cap currently stands at $388,270,259,161 and its 24 hour trading volume at $49,063,409,981 after an increase of more than 3%.

The price of BTC plummeted below its exponential moving averages (EMAs) after the 9 (EMA) line crossed above the 20 EMA line, with BTC’s price crossing above the two EMA lines to print a positive six candle sequence. The bullish EMA cross was short-lived following these movements.

However, bulls have initiated a comeback as the large red candle on the daily chart was followed by a slight resurrection in buy volume.

The Relative Strength Index (RSI) indicator has also declined to 45.5 from its previous peak value of 61. Nevertheless, the RSI line maintains a position above the RSI SMA line, which is a bullish sign. However, investors and traders may need to tighten their stop losses given the current margin between the RSI and RSI SMA is tight.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

  • Glassnode data shows that BTC’s percent supply last active for more than five years is at an all-time high.
  • At the moment, BTC trades at $20,267.15 after dropping slightly over 9%.
  • The daily bullish EMA cross on BTC’s chart was short-lived following the latest price drop.

On-chain market intelligence Glassnode took to Twitter on September 14 to share some of the latest statistics relating to the crypto market leader, Bitcoin (BTC).

According to the post, “BTC’s Percent Supply Last Active 5+ Years” has reached an all-time high (ATH) of 24.739%.

CoinMarketCap, the crypto market tracking website, shows that BTC is currently trading at $20,267.15 after a 9.37% drop in price over the last 24 hours. At this time, BTC also established a low of $20,062.67.

BTC’s market cap currently stands at $388,270,259,161 and its 24 hour trading volume at $49,063,409,981 after an increase of more than 3%.

The price of BTC plummeted below its exponential moving averages (EMAs) after the 9 (EMA) line crossed above the 20 EMA line, with BTC’s price crossing above the two EMA lines to print a positive six candle sequence. The bullish EMA cross was short-lived following these movements.

However, bulls have initiated a comeback as the large red candle on the daily chart was followed by a slight resurrection in buy volume.

The Relative Strength Index (RSI) indicator has also declined to 45.5 from its previous peak value of 61. Nevertheless, the RSI line maintains a position above the RSI SMA line, which is a bullish sign. However, investors and traders may need to tighten their stop losses given the current margin between the RSI and RSI SMA is tight.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

 

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