Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-declines-after-historic-peak-signals-demand-attention/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Price Declines After Historic Peak, Signals Demand Attention</a><br></p>
<p style="text-align: justify">Bitcoin’s price achieved a historic peak of $103,679, but its subsequent decline of 6.8% has raised concerns. Founders of the <a href="https://en.coin-turk.com/bitcoin-price-surges-optimism-grows-for-2024/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto</a> analysis platform Glassnode, Jan Happel and Yann Allemann, issued warnings about a significant market correction. Weakness signals in the Bitcoin Fundamental Index (BFI) suggest potential risks in the market.</p>
<h2 style="text-align: justify" id="rising-risks-in-bitcoin-fundamental-index">Rising Risks in Bitcoin Fundamental Index</h2>
<p style="text-align: justify">Glassnode’s Bitcoin Fundamental Index is a crucial indicator that examines fundamental data in the market. This index evaluates factors such as wallet activities, on-chain transaction volume, and investor behavior, offering critical insights into market health. Recently, however, a noticeable decline has been observed in the index.</p>
<p style="text-align: justify">Happel and Allemann stated, “Bitcoin has surpassed the $100,000 level, but the BFI is signaling a downturn. This indicator typically provides early warning signals that become hard to ignore once validated.” The weakening of the index is seen as a significant factor increasing the risk of a market correction.</p>
<h2 style="text-align: justify" id="investors-reassess-profit-taking-strategies">Investors Reassess Profit-Taking Strategies</h2>
<p style="text-align: justify">Experts note that with Bitcoin’s price exceeding the $100,000 threshold, investors are reassessing their profit-taking strategies. Glassnode’s “Net Realized Profit/Loss” metric indicates that many Bitcoin holders are waiting to realize profits.</p>
<p style="text-align: justify">“Bitcoin holders are targeting higher price levels. In this case, delaying profit-taking suggests price consolidation and indicates a certain balance in the market,” Happel and Allemann emphasized the impact of investor behavior on market stability.</p>
<p style="text-align: justify">Currently, Bitcoin is trading at $96,579, reflecting a 6.8% drop from its historical peak. Analysts warn that the market may exhibit increased volatility in the coming weeks.</p>
<p style="text-align: justify">In conclusion, the potential future price movements of Bitcoin and the signals provided by the Fundamental Index are closely monitored by market participants. These critical data points are expected to significantly influence market behavior in the near term.</p>
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Bitcoin Price Declines After Historic Peak, Signals Demand Attention

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