Jan Wüstenfeld
Bitcoin Price Drops Below $60k; But On-Chain Fundamentals Remain Positive
While Bitcoin's price corrected temporarily below $60k last night, on-chain data remains positive. -Long Term Holder SOPR on block-level not exceptionally high -No significant net-inflows of BTC on exchanges on the hourly Instead, the drop seems to be related to excessive leverage in the system being flushed out. As long as on-chain fundamentals do not change on these price corrections, the medium term outlook remains bullish.