CryptoQuant "Bitcoin to fall to $32,000 after spot ETF launch"
The price of bitcoin, which currently stands at more than $40,000 (KRW 52 million), could fall to $32,000 (KRW 42 million) after the launch of a bitcoin spot exchange traded fund (ETF), according to a report. Blockchain data analytics firm CryptoQuant made the prediction on Dec. 29 last year,...
The price of bitcoin, which currently stands at more than $40,000 (KRW 52 million), could fall to $32,000 (KRW 42 million) after the launch of a bitcoin spot exchange traded fund (ETF), according to a report. Blockchain data analytics firm CryptoQuant made the prediction on Dec. 29 last year, Coindesk reported. Currently, short-term holders of bitcoin have an unrealized profit margin of more than 30%, which has been seen before in previous price corrections, the analysis said. It is expected that they will sell their bitcoin to take profits when the bitcoin spot ETF launches, which is expected early this month.
Related Articles
- Trend Research's $800M ETH Liquidation — A 3AC Déjà Vu? How 411K ETH Dump Shook the Altcoin Market
- Stablecoin Transfer Volume Hits \.8T Record — Doubles Visa and PayPal Combined as Fear Grips Crypto
- Fear & Greed Index Hits 12: Extreme Fear Grips Crypto as Every Funding Rate Turns Negative
- NEAR Protocol Surges 41% While Fear & Greed Hits 12 — AI Catalysts Power a Counter-Trend Rally
- 38% of Altcoins Near All-Time Lows — This Drawdown Is Worse Than the FTX Collapse
