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Feelin' the Meme Coin Fever? It Might Be Time to Think Again.
USAWednesday, February 12, 2025
The signs of a market top are there. Over 90% of bitcoin supply is currently in profit. This has historically been a sign that bitcoin prices are likely to hit a peak. It's a similar story with the overall market cap, as the recent price action seems heavily influenced by speculators. Bitcoin has seen a modest 3% gain this year, but it is hovering around $90, 000, a key support level for many analysts. Investors should be prepared for the possibility of draw downs of 30% or more.
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