Bitcoin's May Price Plunge: Analysis and Outlook.
TL;DR Summary
Bitcoin's 30-day volatility dropped to 1.52%, far below the yearly average of 4% and higher, and Glassnode data shows that Bitcoin's low volatility periods have only lasted for 19.3% of its total price history. Analysts at Glassnode arrived at a level of $32,000 for Bitcoin after focusing on active Bitcoin investors and removing coins that are lost forever. The short-term charts of Bitcoin and select major altcoins suggest that the bulls may be losing their grip.
- Price analysis 5/31: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC Cointelegraph
- Bitcoin falls ahead of debt ceiling vote, caps its first losing month of the year CNBC
- Bitcoin Falls Toward $27,000. The Price Is Still 'Ahead of Itself.' Barron's
- Bitcoin risks ‘new lows’ into monthly close as BTC price retests $27K Cointelegraph
- Bitcoin prices fall 7% in May, on pace for first monthly loss of 2023 Yahoo Finance
Reading Insights
Total Reads
0
Unique Readers
0
Time Saved
7 min
vs 8 min read
Condensed
95%
1,492 → 76 words
Want the full story? Read the original article
Read on Cointelegraph