Bitcoin Sees Resistance at $21K
We’re at $20050 this morning which is up a fair amount from Saturday where we saw Bitcoin dip into the $17K region – too bad I was caught-up in family stuff and busy or I would’ve bought some if I had noticed – still mad at myself over that lol This won’t last much longer and be it $20-21K today, I’m still buying! Hodl on!
Bitcoin Sees Resistance at $21K as Investors Record Losses of Over $7B: Glassnode
“Approximately 555,000 BTC have changed hands between prices of $18,000 and $23,000, a strong support and resistance level respectively for the asset ranged over the past few days, the firm said. Losses ranged between $1.5 billion and $2 billion each day, data shows.
Long-term holders, or those holding BTC for a period longer than 155 days, liquidated over 178,000 BTC at prices below $23,000, the data showed. However, these liquidations accounted for only 1.31% of the total holdings.
As per blockchain data, some of these holders purchased their coins at $69,000, bitcoin’s lifetime high, and sold at $18,000, taking on a loss of nearly 75%, Glassnode said.
Such liquidations could have contributed to bitcoin falling to under $20,000 over the weekend. Bitcoin fell to as low as $18,319 a coin while its market capitalization slumped to about $350 billion, a 73% decline from its November all-time high, as previously reported.
Bitcoin saw resistance at $21,000 on Monday morning after a relief rally saw some $2,000 added to prices over the past 24 hours. The $21,000 level has acted as support in the past weeks, price-charts show.”