Is Now The Time To Buy Bitcoin? On-Chain Data Reveals Key Indicators
Bitcoin has rebounded to $95,224 after briefly dropping to $90,000, marking a 7% gain over two weeks. CryptoQuant provides insights into key metrics for investors, highlighting historical price corrections during bull markets, such as 22% in 2017 and 30% in 2021. The current bull run has seen 15% and 20% pullbacks, suggesting strategic buying opportunities. The Short-Term Holder Realized Price metric indicates a critical support level, as short-term holders tend to buy at break-even prices. The "Flush of Open Interest" phenomenon may create favorable entry points during market resets. The Net Taker Volume indicator suggests that peak selling activity can signal future price growth, with readings below -$30,000,000 indicating potential seller exhaustion. Analysts emphasize the importance of maintaining support above the $93,580 price zone to prevent sell-offs from holders.
