Home Topics Business Here's why bulls aren't buying the bitcoin price drop to $ 50,000

Here’s why bulls aren’t buying the bitcoin price drop to $ 50,000

Here’s why bulls aren’t buying the bitcoin price drop to $ 50,000

((BTC) has bounced back to the $ 51,000 support in the past 44 days. Typically this is interpreted as a positive event, especially considering that the $ 50,000 level represents a 75% increase in 2021.

However, cryptocurrency investors tend to be short-term focused and always overly optimistic. Hence, the current narrative for Bitcoin is slowly turning bearish, but mood aside, what story does the basics tell?

Bitcoin price at Coinbase, USD. Source: TradingViewExchange’s top traders Bitcoin long-to-short ratio. Source: Bybt

Read on on Coin Telegraph

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