Bitcoin's Price Seen as 'Unprecedented' Buy Opportunity by Winklevoss
Cameron Winklevoss, co-founder of Gemini, believes that Bitcoin's current price is an 'unprecedented' buy opportunity. Speaking on X, he noted that investors would have jumped at the chance to purchase Bitcoin at roughly half its previous price of $120,000.
Winklevoss compared the situation to having a 'time machine' to invest in Bitcoin at $65,000. He expressed his curiosity about when Bitcoin will 'go back to the future', implying that it may return to its previous highs.
However, on-chain data from CryptoQuant suggests that investors are not rushing to capitalize on lower prices yet. The 30-day average Taker Buy Volume on Binance has dropped to $3.3 billion, a level previously associated with substantially lower Bitcoin prices.
CryptoQuant cautioned that depressed Taker Buy Volume represents a condition rather than confirmation of a bottom.