Last night, the price of Bitcoin fell from its previous all-time high above $126,000 to a four-month low of $98,962. Today, we saw a recovery to $103,000. Analysts at CryptoQuant analyzed the situation and dismissed claims of a bear market.
According to CryptoQuant analyst Mignolet, despite the current fluctuations, interest in the crypto industry and Bitcoin in particular remains high.
The analyst believes that before the emergence ETF Ratio-based data was taken into account as the primary factor, while more important indicators, such as volume data, were often overlooked.
Mignolet confirmed that this omission changed after approval ETFHe acknowledged that traders and investors tend to look only at odds, which can make it appear that the current market is not overheated, but this is not the case.
Investor interest remains clearly high at the moment, as evidenced by Bitcoin trading volume rising more than 33% overnight to $111 billion.
Given the current BTC price forecast, market sentiment is mixed. On the one hand, Bitcoin is performing worse than US Treasuries, but expectations for a continuation of the bullish trend remain high.
The fact that altcoins and their leader are strengthening speaks in favor of Bitcoin’s strengthening. эфириум are suffering even greater price losses. Against this backdrop of Bitcoin’s dominance, the market is growing exceptionally.
Many market experts are warning of potential volatility in the coming weeks, noting that the current sell-off is a healthy correction that will lead to more significant gains in the long term.