• A few hours after the accumulation of 4.6% circulating BTC, the price dropped again.
• Long liquidations increased even though shorts positions increased.

Recently, Glassnode reported that about 780,000 Bitcoin [BTC] investors filled their buy orders at a spot price of $26,800. However, the action seemed to be the wrong one as BTC declined by another 5.8%. This plunged the total number of coins in losses to 1.26 million.

The recent #Bitcoin move downwards from $27.3K to $25.8K (-5.8%) has caused the percent supply in profit to decline from 69% to 62.5% (-6.5%), plunging a further 1.26M coins into loss. https://t.co/anTps0tpRk pic.twitter.com/iPLZ64tU4n

— glassnode (@glassnode) June 5, 2023

Is your portfolio green? Check the Bitcoin Profit Calculator 

For many in the crypto ecosystem, employing the Dollar Cost Averaging (DCA) system is a great tactic to win over the market in the long term. But in the short term, there are usually concerns about assets moving in either direction.

Shorts thriving; longs in the “red pool”

An undeniable reason for the fall is the crises facing Binance. Recall that on 5 June, the SEC t

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Author: Victor Olanrewaju

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