performance over the last seven days was underwhelming, as its price dropped below the $65k mark. The price corrections sparked fear among investors. However, the trend might end soon as historical trends hint at a possible market bottom.revealed that BTC was down by nearly 4.5% in the last seven days. In fact, in the last 24 hours alone, the king of cryptos’ price dropped by over 2%.
The tweet mentioned, “This extended level of FUD is rare as traders continue to capitulate. BTC trader fatigue, combined with whale accumulation, generally leads to bounces that reward the patient.”The Pi Cycle Top indicator pointed out that BTC’s price had dropped from its perceived market bottom of $66.5k. This clearly hinted at a price increase in the coming days.
Going forward, if things turn bullish, then BTC might as well reach its market top of $91k in the coming weeks or months.Like the aforementioned data, a few other metrics also looked bullish. For example, at press time, BTC’sWhenever the metric hits this level, it indicates that the chances of a bull rally are high.AMBCrypto’s look at CryptoQuant’s data revealed a few bearish metrics. For instance, BTC’s exchange reserve was increasing.
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