CryptoQuant says Bitcoin's 24% rally has turned market indicators positive, hinting at a new bull market. However, rising profit-taking could cause short-term turbulence. The $83,000 price point remains a crucial level to watch.
Bitcoin has seen a significant 24% price increase recently, suggesting a new bull market phase, according to CryptoQuant. This rally has shifted important market indicators to a bullish outlook. However, as investors start to take profits, the market might experience some short-term volatility. The analytics firm highlights that the $83,000 price level will be crucial for Bitcoin's continued upward trend. This point could determine if the current momentum will hold.
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