Bitcoin (BTC) starts a new week on a promising footing with BTC price action near one-month highs — can it last?
“Bitcoin has been stuck between $16k and $18.5k for 2 months now,” he acknowledged: “Watch this range very very carefully, a break from either direction can bring 20% volatility, which could happen soon.
“2023 all depends on DCG at this point,” Justin Herberger, author of the Invest and Prosper newsletter, meanwhile forecasts: “If they somehow collapse, it’s gonna get ugly.
“The heavy sell pressure from Bitcoin miners that have barraged the market for the last 4 months has finally subsided for now,” William Clemente, founder of crypto research firm Reflexivity, summarized alongside data from on-chain analytics firm Glassnode this weekend.
Bitcoin network fundamentals overview (screenshot).
Source: Cointelegraph
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