Almost 47% of Bitcoin’s Supply at a Loss as BTC Price Crashed Below $30K

Yesterday, Bitcoin’s price fell below $30K (on Binance), for the first time since July 2021. It dropped to $29,730.

CryptoQuant, a popular analytics tool, has revealed that 46.8% is in loss. Investors bought it at a lower price.

Source: CryptoQuant

This happened as Bitcoin’s price plunged below $30K for the first time since July 2021 (on Binance).Interestingly enough, the price also went below the average acquisition cost for MicroStrategy’s BTC, which, at the time of this writing, sits at $30,700 per coin.The company spearheaded by Michael Saylor – one of Bitcoin’s most vocal proponents – has bought a total of 129,218 bitcoins at this price.Data shows that this has happened a few times in the past, where most recently, it took place during the Covid-19 crash that happened in March 2020, and on all occasions, it represented good accumulation opportunities.

Source: CryptoQuant
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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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