CryptoQuant Analyst: Bitcoin hoarding whales may react to panic sentiment, the market could see a V-shaped rebound
CryptoQuant analyst Mignolet pointed out that, based on the UTXO profitability percentage analysis during last year's consolidation phase, although the current Bitcoin price is in a consolidation phase, the UTXO profitability percentage has clearly deviated from its low point. At this time, Bitcoin whales may react to market panic, indicating that a V-shaped rebound might occur in the market.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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