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Title: Profit-Taking At $90K-$100K Cools Bitcoin As Block P/L Count Ratio Drops Sharply – Details
As we enter the new year, the cryptocurrency market has been under immense pressure. The recent surge in BTC’s price has led many investors to take profits at the $90K-$100K mark. This profit-taking activity has resulted in a sharp drop in the block per loss (P/L) count ratio.
The Bitcoin price chart is showing a mixed signal, with the MACD and RSI indicating oversold conditions while the 1-hour chart is still above the 200-day EMA. The current situation highlights the need for caution as investors are cautious of a potential correction.
Recent data suggests that the block P/L count ratio has dropped sharply, signaling profit-taking at the $90K-$100K mark.
Source: bitcoinist.com
