Bitcoin Silently Absorbs Over $3 Billion in Sell Pressure Amidst Recent Rebound
CryptoNewsTerminal Staff15 Jul, 2024
Bitcoin Silently Absorbs Over $3 Billion in Sell Pressure Amidst Recent Rebound
Bitcoin (BTC) has quietly soaked up over $3 billion in sell pressure during its recent rebound, according to on-chain analytics provider Glassnode's lead analyst James Check. Check noted that "we live in an era where uncertain and political situations can guide the market." Following the news of Trump's impeachment over the weekend, BTC reclaimed $63,000 and absorbed over $3 billion in sell pressure. This resilience highlights Bitcoin's growing maturity and its potential as a safe haven asset in times of uncertainty. As Vladimir Lenin famously said, "there are decades where nothing happens and there are weeks where decades happen!"
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