has shown remarkable strength in recent weeks, surging 39.51% over the past month and lifting its market cap to $1.85 trillion.While this drop may indicate a healthy correction, bullish fundamentals remain. Bitcoin could regain momentum and resume its climb after this period of consolidation.Crypto analyst King Young Ji has cautioned that BTC may face a significant corrective move before resuming its upward trajectory.He noted, referencing historical data to back his claim.
The smallest drop was 10%, while the largest reached 28%, highlighting the volatility of even bullish market phases.Based on his analysis, BTC’s current rally could see a similar correction. Such pullbacks, while unsettling, are part of a healthy market cycle and often precede further gains.Transaction volume and active address surge
Active addresses have surged to 1,276,535, a level last seen in May. This rise is accompanied by a 56.27% jump in transaction volume, reinforcing the possibility of bullish momentum building up. Bitcoin exchange reserves, which track the total supply of BTC held across exchanges, have continued to decline.
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Source: CryptoAmb - 🏆 22. / 68 Read more »