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

The price of Bitcoin has found its way back above the $85,000 mark, marking a huge success in the recovery from the coin’s latest slump toward $74,000. According to an on-chain analyst, this recent correction might not be as ominous as initially thought and could be part of a broader bull cycle. Can BTC Price Reach A New All-Time High In This Cycle? 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. This evaluation is based on the Realized Cap of Unspent Transaction Output (UTXO) age bands, which analyzes the holding pattern of different investor cohorts source: https://www.newsbtc.com/news/bitcoin/bitcoins-last-drawdown-to-74000-is-a-healthy-correction-analyst-says-bull-cycle-is-still-on/