© Reuters. 2 BTC Price Indicators Suggest It Has Not Bottomed Yet
  • According to two price indicators, BTC has not bottomed yet.
  • managed to break the $40,000 again but it didn’t last for more than six hours.
  • Currently, there are 2.2 million active BTC over the past 30 days.

Traders are using different strategies to know whether Bitcoin’s (BTC) price has bottomed yet. Meanwhile, on-chain activity and derivatives data show that the situation remains uncertain.

Ever since the $30,000 on May 12, traders have been waiting for its trend reversal. Apparently, it reached $12 billion worth of futures long positions being liquidated.

However, traders’ confidence remains decreasing. Hence, the crypto community started looking for trend reversal signs. For example, analyst @immortalcrypto said a new high followed by a move above $40,000 is enough.

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