CandleFocus Bitcoin Adds 50K Addresses, but a Breakout May Not Be On the Horizon Yet
2025-03-06
Author: Content Editor
Bitcoin's network has seen an increase of 50,000 new wallets over the past month, indicating growing interest and network activity. However, the new investors are mostly smaller investors, and whales have yet to join in. Whales with large holdings have continued profit-taking trades, suggesting a market-wide resurgence may not be imminent. Geopolitical uncertainty, including trade war concerns and strained international relationships, is also impacting risk markets like crypto. Bitcoin could risk a steep decline to the $69,000-$76,500 range, according to an analyst. Despite these concerns, Bitcoin is currently trading at around $92,000, showing a 5% gain on the day.
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