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.
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CryptoAmb - 🏆 22. / 68 Read more »