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

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.