Bitcoin [BTC] to be haunted by the bears in 2023? Yes, say these metrics

New data suggests that Bitcoin holders have started selling their BTC at a loss Whales started to lose interest as selling pressure grew, however, traders remained optimistic According to 2 January 2023 tweet, the majority of Bitcoin [BTC] holders have started to lose faith in the king coin. Reportedly, the net realized losses for Bitcoin are […]

This was indicated by the increase in the exchange reserve for

, which increased by 0.42% in the last seven days. A growing exchange reserve implied higher selling pressure on Bitcoin holders., the Miner Position Index suggested that miners were observed to be moderately selling their mined Bitcoin.Despite these bearish factors, traders remained optimistic about the future of Bitcoin.Based on data provided by Coinglass, most top traders held long positions in favor of Bitcoin. During press time, 64.7% of overall traders had gone long on BTC.

Its price fell by 2.5% in the last 30 days. Despite its declining prices, Bitcoin’s market cap dominance increased by 4.41% in the same period.Subscribe to get it daily in your inbox.

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