Bitcoin’s Last Drawdown To $74,000 A ‘Healthy Correction’ — Analyst Says Bull Cycle Is Still On

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Bitcoin’s Last Drawdown To $74,000 A ‘Healthy Correction’ — Analyst Says Bull Cycle Is Still On - NewsBTC

Quick Summary:

An analyst with the pseudonym ShayanBTC, in a Quicktake post on the CryptoQuant platform, shared fresh insights into the current Bitcoin market dynamics and the implications of the most recent price pullback.

Here’s What Happens If It Mimics 2017 And 2021 Rallies The UTXO age bands metric tracks the average price at which Bitcoin holders purchased their coins compared to how long they’ve held the assets.

The Quicktake analyst noted this pattern points to a "holding trend”, where the 3 – 6 months and 6 – 12 months investors are not offloading their assets despite the ongoing market correction.