The active Bitcoin addresses are approaching a three -month height, indicating a possible surrender in the encryption market, which may lead to the reversal of prices from the last correction.
The active headlines on Bitcoin network rose to more than 912300 on February 28, an unprecedented level since December 16, 2024, when Bitcoin (BTC) was traded by about $ 105,000, Glassnode Data appears.
The number of bitcoin is the number of active addresses. Source: Glassnode
The increase in the active headlines may indicate a “moment of surrender” to the encryption market, According to To Crypto Intelligence Platform IntothBlock. On February 28, the company noticed:
“Historically, the nails coincided with the activity of the chain often with the market peaks and the prices-which are driven by the outskirts and opportunistic buyers.”
The publication added: “Although there is no single metric that guarantees a price reflection, this increase indicates that the market can be at a decisive turning point.”
In financial markets, surrender indicates investors who sell their positions in a state of panic, which leads to a significant decrease in prices and indicates the imminent market bottom before the next upward trend begins.
Related to: “Most of Altcoins will not make it,” says Cryptoquant CEO.
Bitcoin should keep more than $ 80,500 to avoid more losses
Bitcoin’s ability to stay higher than $ 80,500 will be a “possible catalyst for stability in the market,” according to Stella Zlatariva, the transmission editor on the Nexo Digital Investment Investment platform.
Zlatareva Cointelegraph said:
“Option data indicates that BTC’s ability to restore $ 80,500 will be a major factor in the near -term momentum. The collapse above this level may pave the way for more upward trend, while failure to establish it as support may lead to more test on the negative side.”
Related to: Trump to host the first White House encryption summit on March 7
However, Bitcoin may re -visit this decisive support if its price decreases to less than 84,000 dollars.
Bitcoin exchange Map: Coinglass
A possible correction is less Coinglass Data appears.
Despite the short-term fluctuations, the price of Bitcoin is closer to forming the market bottom than reaching a local summit, according to the market value of the market for the value of the achieved value (MVRV)-a technical indicator used to determine whether the original has been made or in the sale.
Bitcoin Mvrv Z-Core. source: Glassnode
The MVRV Z in Bitcoin 2.01 on March 1, indicating that the price of Bitcoin is close to green lands at the bottom of the graph, and has become increasingly increasing, Glassnode Data appears.
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magazine: SCB Tips 500K BTC, SEC Delay ETHE ETF options, and more: Hodler’s Digest, February 23 – 1 March
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