Bitcoin has been in a downtrend lately, trading 30% below its all-time high. Since February, prices have mainly stayed between $76k-$85k. Whenever prices drop toward $76k, buyers step in and push prices back up. The Realized Profit/Loss Ratio helps explain this pattern. When this ratio falls below 1.0, it means more investors are taking losses than profits. This often signals seller exhaustion and leads to short-term rebounds. Each dip into the $76k-$80k range has coincided with this ratio dropping below 1.0, triggering relief rallies. However, the market hasn't shown sustained strength yet as it's still recovering from the emotional impact of the $109k peak.
Bitcoin has been in a downtrend lately, trading 30% below its all-time high. Since February, prices have mainly stayed between $76k-$85k. Whenever prices drop toward $76k, buyers step in and push prices back up. The Realized Profit/Loss Ratio helps explain this pattern. When this ratio falls below 1.0, it means more investors are taking losses than profits. This often signals seller exhaustion and leads to short-term rebounds. Each dip into the $76k-$80k range has coincided with this ratio dropping below 1.0, triggering relief rallies. However, the market hasn't shown sustained strength yet as it's still recovering from the emotional impact of the $109k peak.
Traders also expressed uncertainty about the situation with China Evergrande, as the indebted property company has not provided clarification about a key interest payment.In economic news, the Commerce Department reported an unexpected increase in U.S. new home sales in August.Crude oil prices climbed Friday and front-month WTI oil futures contracts saw gains for a fifth straight week amid tighter supplies. West Texas Intermediate Crude oil futures for November rose $0.68 or 0.9 percent at 73.98 a barrel. WTI Crude futures gained 2.8 percent for the week.
How to Use Bitcoin?
n the U.S. people generally use Bitcoin as an alternative investment, helping diversify a portfolio apart from stocks and bonds. You can also use Bitcoin to make purchases, but the number of vendors that accept the cryptocurrency is still limited. Big companies that accept Bitcoin include Overstock, AT&T and Twitch. You may also find that some small local retailers or certain websites take Bitcoin, but you’ll have to do some digging. That said, PayPal has announced that it will enable cryptocurrency as a funding source for purchases this year, financing purchases by automatically converting crypto holdings to fiat currency for users. “They have 346 million users and they’re connected to 26 million merchants,” says Spencer Montgomery, founder of Uinta Crypto Consulting. “It’s huge.”
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