Bitcoin News
By MikeT
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Bitcoin’s recent price correction may be nearing its conclusion, according to fresh insights from on-chain analytics platform CryptoQuant.
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One of the most telling indicators in this analysis is the age band of Bitcoin held between one week and one month.
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CryptoQuant’s chart highlights a cycle that has repeated multiple times in this current market run.
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The historical context is also important. In the first quarter of 2024, Bitcoin surged to a then all-time high of $73,750, fueled by growing investor optimism and favorable…
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In the months since reaching that peak, Bitcoin has shed approximately 32% of its value, falling to around $74,400 at one point.
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One of the key points supporting a more neutral-to-bullish outlook is the decline in speculative pressure.
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At the time of writing, Bitcoin is trading at approximately $84,450, reflecting a modest 0.45% increase in the last 24 hours.
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Ultimately, while it remains too early to declare a full reversal, signs suggest that Bitcoin’s overheating phase may have passed, setting the stage for what could be the…
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