Fear Engulfs the Market as On-Chain Analysis Reveals All BTC Holders From Five Years Ago Are Now in the Red

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In addition to being the most lucrative and secure coin, Bitcoin has long been considered the “father of all cryptocurrencies.” However, as more BTC holders watch their investments go, they are starting to lose the will to sustain this as it becomes impossible.

Key Bitcoin Levels To Watch – December 18

Since on-chain analysis showed that all BTC holders from five years ago are now in the red, active traders continue to lose faith in Bitcoin as a result. As a result, there has been a significant market withdrawal. The majority of investors’ hopes, according to Santiment, are to at least make up for their long-term losses. Santiment’s statistical analysis revealed that the average return over the previous five years was around – 30%.

Fear Engulfs the Market as On-Chain Analysis Reveals All BTC Holders From Five Years Ago Are Now in the Red

Bitcoin’s order flow is typically bearish. The current trading range of the market on the daily chart is defined by the price levels of $21479.00 and $15512.00. The resumption of the bearish move was triggered in August 2022 by the Fair Value Gap (FVG).

The RSI indicator currently reveals that the market is heading downward. Coupled with the bearish mitigation block, a massive crash is expected to occur at the -50% Fibonacci retracement level.

Binance Coin Key Levels

Resistance Levels: $32384.00, $28000, $25339.00
Support Levels: $15512.00, $13213.00, $11210.00

Total Market Capitalization: $822.69B
Bitcoin Market Capitalization: $322.45B
Bitcoin Volume: $11.12B
Market Rank: #1

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.