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Bitcoin crosses $62k, but should you be cautious of a reversal?

  • BTC’s price moved up marginally in the last 24 hours.
  • Long-term holder activity seemed bearish, hinting at a price correction.

Bitcoin [BTC] manages to maintain its gaining spree as its daily chart remains green. However, a key BTC metric reached a level that suggested that the possibility of a price correction was high.

Should investors be cautious while making decisions on BTC?

Bitcoin investors are in profit!

Over the last week, BTC investors enjoyed huge profits as the king of cryptos’ price surged by more than 20%. In fact, in the last 24 hours, the coin’s value went up, allowing BTC to go above the $62k mark.

The growth trajectory looked immensely promising and hinted that the day BTC can touch its previous ATH of $69k was not far.

At the time of writing, BTC was trading at $62,151.15 with a market capitalization of over $1.22 trillion. Things for BTC looked pretty optimistic, as the coin had a strong support level.

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