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Surmising what the next few days can look like for Bitcoin
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Somehow after a solid performance throughout the month, Bitcoin has slowed down for the last 8 days. The rally which brought the ATH turned into consolidation with some significant drop in price. But it wasn’t really worrisome back then as much as it is now. Certain developments in the on-chain data have led to a 180° shift in investor behavior as well.
Since 21 October, 2021 the king coin has dropped by almost 8%. However, price corrections are common after such rallies. It was the fall of the Spent Output Profit Ratio which raised concerns. As the indicator fell from strength to weakness it indicated 3 possible scenarios going forward.
The first of it is that top buyers could be realizing losses. The consolidation and correction led to
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