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Analysis: The adjustment of BTC price is a positive signal for the market, and there will be drastic fluctuations in the coming days

Analysis: The adjustment of BTC price is a positive signal for the market, and there will be drastic fluctuations in the coming days

2024/03/06 03:43

CryptoQuant contributor abramchart pointed out that the current price adjustment of Bitcoin is actually beneficial for the market. As of yesterday's close, the market loss was only 0.04%, which is close to the bottom level of previous historical cycles.

The market is now undergoing adjustments, and the loss rate may increase due to the current decline, which is a very good signal.

According to historical data, usually after the market bottoms out, there will be a period of price fluctuations before reaching its peak.

In short, according to this indicator, market sentiment remains positive but prices may fluctuate significantly in the next few days.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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