More than 50 percent of Bitcoin addresses are now in the red for the first time since the start of the coronavirus-induced crash of March 2020.
that most cryptocurrency addresses holding Bitcoin are now in the red for the first time since the coronavirus-induced crypto market crash of March 2020.
A bitcoin address whose coins were acquired at an average price higher than bitcoin’s going market rate of $16,067 is considered out-of-the-money. Lucas Outumuro, the head of research at IntoTheBlock stated that the bearish momentum of the market looks overdone. Previous bear markets ended with the majority of addresses also being out-of-the money.
Crypto has faced a rough time since the collapse of FTX, the popular crypto exchange that it seems almost all major crypto firms had large amounts of money invested with. Cryptocurrency lending firm Genesis Global Capital has
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