After enduring its deepest correction since the FTX lows, with a decline of 20.3%, Bitcoin has rebounded, reaching $71,000 on May 20, 2024. This remarkable recovery places Bitcoin near its all-time high and showcases a pattern reminiscent of the 2015-2017 bull market. The pattern closely aligns with that of the previous bull market, highlighting a historical consistency in Bitcoin’s performance cycles. One of the most reliable indicators of Bitcoin’s future price movements has been the behavior of wallets holding at least 10 BTC. Historically, when these wallets accumulate Bitcoin, it signals a market rise, while their liquidation often heralds extended bear
The post Bitcoin’s Resurgence Mirrors Historical Bull Market Trends appeared first on The Merkle News.
