 ▲ Bitcoin (BTC) |
Cryptocurrency leader Bitcoin (BTC) fell to the $63,000 level on the 21st (local time).
According to CoinMarketCap, as of 8:39 p.m. on this day, the price of 1 Bitcoin is $63,794, down 3.69% from 24 hours ago.
Into the Block, a cryptocurrency market data platform, said through “It is,” he said.
Additionally, Woominkyu, a CryptoQuant contributor, said, “Bitcoin tends to undergo adjustments when the ASOPR (Adjusted Spent Output Profit Ratio) indicator approaches 1.08.” He added, "The rise in this indicator generally occurs in a bull market, and in the past, when the indicator reached 1.08, the price entered a correction phase. As similar patterns have been observed in the past, there is a possibility that the current phase will follow the same path." Currently, the ASOPR indicator is recording 1.04.
Meanwhile, cryptocurrency trader Justin Bennett warned that if the stock market crashes, BTC and cryptocurrencies in general will be hit. He told his 110,800 followers on social media platform .
