Bitcoin $85,933.72 In the number of active addresses on the network, approaching the highest levels of the last three months was interpreted as a possible return after the current correction period. According to February 28 data, the number of active addresses in the Bitcoin network increased above 912,300 and approached the observed levels in December.
Active Address Increase
Crypto Analysis Platform Intothheblock said that the increase in On-Chain activity can be associated with market peaks and bottom points. This increase was interpreted with the influence of investors who sell in panic and buyers who evaluate opportunities. The expression of the platform points out that it is possible to recover after investors’ panic.
Historically, developments in panic sales and search for opportunities have been observed in which the on-a activity explosions reflect the peaks and bottom points of the markets.
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Support Point and Technical Indicators
Stella Zlatareva from the crypto asset investment platform Nexo said that Bitcoin’s above $ 80,500 is important for the stability of the market. According to Zlatareva, overcoming this level can give a positive acceleration, while in case of failure, the price may fall more.
Bitcoin price, if it falls below $ 84,000, all stock exchanges of leverage leverage leverage positions will be liquidated in the warning that the expert short -term fluctuation will continue.
Stella Zlatareva said, “BTC’s protection of $ 80,500 will be decisive in short -term acceleration.”
Among the technical indicators, MVRV Z-Score points out that Bitcoin’s price is approaching the bottom-point levels and entering the extreme sales zone. This data shows that the market should be followed carefully before sudden recovery.
While the data is closely monitored by investors, the increase in the number of active addresses and technical indicators point to possible return signals in the market. While support levels and technical data are important for investors, the general course of the market remains uncertain.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
