{"id":22580,"date":"2023-03-06T14:46:10","date_gmt":"2023-03-06T22:46:10","guid":{"rendered":"https:\/\/coinnetworknews.com\/bitcoin-price-enters-transitional-phase-according-to-btc-on-chain-analysis\/"},"modified":"2023-03-06T14:46:10","modified_gmt":"2023-03-06T22:46:10","slug":"bitcoin-price-enters-transitional-phase-according-to-btc-on-chain-analysis","status":"publish","type":"post","link":"https:\/\/coinnetworknews.com\/bitcoin-price-enters-transitional-phase-according-to-btc-on-chain-analysis\/","title":{"rendered":"Bitcoin price enters ‘transitional phase’ according to BTC on-chain analysis"},"content":{"rendered":"
The hopeful optimism of Bitcoin (BTC<\/a>) traders seemed to dissipate in the first week of March as key on-chain metrics provided resistance.<\/p>\n Now Bitcoin price<\/a> is threatening a retest of the $22,000 level and a wave of short sellers would stand to profit if that occurred. If the short sellers\u2019 strike price hit, some analysts believe<\/a> Bitcoin price could drop as low as $19,000. <\/p>\n