CryptoQuant Warns of Possible Bitcoin Drop to $40,000
CryptoNewsTerminal Staff05 Aug, 2024
CryptoQuant Warns of Possible Bitcoin Drop to $40,000
On-chain analytics firm CryptoQuant has issued a warning regarding the potential for a significant Bitcoin price drop. According to the firm, Bitcoin has broken below the $57,000 support level, increasing the possibility of a decline to $40,000. The firm also notes that traders are currently experiencing the largest unrealized loss since November 2022. This news is a cause for concern for Bitcoin investors, as it suggests that the recent upward trend may be coming to an end.
