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    Bitcoin Faces Resistance at .5K: Will Sellers Prevail? | FinOracle

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Home Cryptocurrency Bitcoin

Bitcoin Faces Resistance at $48.5K: Will Sellers Prevail?

Bitcoin may face resistance near $48.5K as on-chain analysis shows investors accumulating BTC at this price level. Some holders may sell, slowing down bullish momentum. Despite this, experts remain optimistic about long-term growth.

by John Darbie
Mon, Feb 12, 2024 3:41pm
in Bitcoin
• 2 mins read
14.8k
Bitcoin Faces Resistance at .5K: Will Sellers Prevail? | FinOracle

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Bitcoin May Face Stiff Resistance Near $48.5K, On-Chain Analysis Shows

Bitcoin, the world’s largest and most iconic cryptocurrency, is facing a potential roadblock as it nears the $48,500 mark. On-chain analysis has revealed that nearly 270,000 BTC, valued at an average cost of $48,491, have been acquired by investors. This accumulation has led to speculation that some holders may choose to liquidate their holdings, as they break even on their investment.

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