Bitcoin Investors Tired: Glassnode Data Shows Resistance
Bitcoin investors are getting tired of the current market conditions, which are characterized by low volatility and a lack of price movement.
The amount of money flowing into Bitcoin is increasing, but it is still not enough to sustain a bull market.
The average cost basis for BTC holders is rising, which means that most investors are buying at a higher price than they would like.
Bitcoin’s volatility has suffered in recent months, and this is making it difficult for investors to make profits.
A large majority of BTC holders are still at losses on their holdings, which is preventing them from selling.
Bitcoin and the general crypto market have been trading in a literal range for the past few months, and investors may be getting tired, according to a new article published by Glassnode.