Bitcoin Bounces as Indicators Suggest We Are Not Yet at Price Discovery
CryptoNewsTerminal Staff11 Jun, 2024
Bitcoin Bounces as Indicators Suggest We Are Not Yet at Price Discovery
Bitcoin is bouncing after overshooting the realized price level of short-term holders (STH), according to on-chain analyst Willy Woo. Several indicators suggest that we are not yet at price discovery, so this is not a time to be fearful. Woo added that BTC is going through a process of weeding out inefficient miners post-halving, and once they capitulate (sell), the price should bounce.