Bitcoin Bounces as Indicators Suggest We Are Not Yet at Price Discovery

IconCryptoNewsTerminal Staff11 Jun, 2024

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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.