Bitcoin Warning: Key Indicator Predicts BTC Downturn

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As fewer transactions occur on exchanges, it suggests that traders and investors are either holding their assets in cold storage, reducing their trading activity or reflecting cooling interest among investors. The decline in on-chain activity might not necessarily be a negative indicator of Bitcoin's long-term prospects. It might simply reflect a period of consolidation or that of investors waiting on the sidelines amid lackluster activity on the market in anticipation of a big move. However, it does suggest that investors and traders are currently less engaged with Bitcoin than in previous periods of high activity.

Bitcoin plummeted to a low of $63,300, its lowest level since May 15, during Friday's trading session, and is now up 0.31% in the previous 24 hours to $64,232.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.Is XRP Finally in Uptrend? Shiba Inu May Still Hit $0.

Is XRP Finally in Uptrend? Shiba Inu May Still Hit $0.00002: Here's How, Ethereum to Start Gaining Some Strength

Source: Digital Coin News (digitalcoinnews.net)

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