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BitcoinSistemi 2025-02-24 06:48:07

What is Expected in the Bitcoin Price in the Coming Days? Analysis Company Shares Forecast According to Data

Cryptocurrency analysis firm CryptoQuant has published its latest assessment of the Bitcoin network, highlighting the decline in network activity and increasing investor uncertainty. Data from CryptoQuant shows that the number of active wallets and transactions used for Bitcoin deposits and withdrawals is on a downward trend. In addition, the accumulation rate of Bitcoin spot ETFs has slowed down, and small capital outflows have been recorded in recent weeks. Another worrying metric is the decline in the number of unspent transaction outputs (UTXOs), a pattern reminiscent of the market correction seen in September 2023. If this trend continues, it could resemble the investor outflow observed at the peak of the 2017 market cycle, according to the analytics firm. However, CryptoQuant notes that while a drop in UTXOs could indicate decreasing participation, it is not enough on its own to confirm that the current bullish cycle is over. Other on-chain indicators point to the potential for continued upward momentum. Related News: Two Chinese Altcoins Reveal They Helped Bybit, Developers Say One of the key factors behind Bitcoin’s recent rally was market optimism around expectations for strategic asset allocation in the US and potential pro-crypto policies following Donald Trump’s election victory. However, enthusiasm has waned as no immediate executive order or legislative action has materialized. Additionally, geopolitical tensions, particularly around global trade policies, have fueled risk-off sentiment among investors. According to CryptoQuant, many uptrends that have previously supported Bitcoin’s price have already been priced in. The next uptrend may require new catalysts or resolution of existing uncertainties. Given the current conditions, short-term price predictions based on historical data and on-chain metrics remain challenging, according to the analytics firm. If macroeconomic conditions improve and Bitcoin regains its upward momentum, investor confidence could recover. Conversely, prolonged uncertainty could lead to another long consolidation phase similar to the one that began in March 2024. *This is not investment advice. Continue Reading: What is Expected in the Bitcoin Price in the Coming Days? Analysis Company Shares Forecast According to Data

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