Bitcoin Faces Volatility Risk as Supply Clusters Near $63K, Analyst Warns
BitcoinWorld Bitcoin Faces Volatility Risk as Supply Clusters Near $63K, Analyst Warns Bitcoin could be heading for sharp price swings as on-chain data reveals a significant build-up of sell-side supply in the $62,000-$63,000 range, according to crypto analyst Murphy. In a post on X, Murphy highlighted that the URPD (UTXO Realized Price Distribution) metric shows a massive concentration of 890,000 BTC accumulated at the $63,000 price level […] This post Bitcoin Faces Volatility Risk as Supply Clusters Near $63K, Analyst Warns first appeared on BitcoinWorld.
BitcoinWorld Bitcoin Faces Volatility Risk as Supply Clusters Near $63K, Analyst Warns Bitcoin could be heading for sharp price swings as on-chain data reveals a significant build-up of sell-side supply in the $62,000-$63,000 range, according to crypto analyst Murphy. In a post on X, Murphy highlighted that the URPD (UTXO Realized Price Distribution) metric shows a massive concentration of 890,000 BTC accumulated at the $63,000 price level […] This post Bitcoin Faces Volatility Risk as Supply Clusters Near $63K, Analyst Warns first appeared on BitcoinWorld.
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The significant sell-side supply near the $63K level indicates potential volatility for Bitcoin, suggesting traders may consider selling to avoid losses.
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