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

What is Expected in the Bitcoin Price in the Coming Days? Analysis Company Shares Forecast According to Data
CryptoQuant, a cryptocurrency analysis firm, has released a report detailing the decline in Bitcoin network activity and increasing uncertainty among investors. The data shows a decrease in active wallets and transactions for Bitcoin deposits and withdrawals, as well as a slowdown in the accumulation rate of Bitcoin spot ETFs. Additionally, there have been small capital outflows and a decline in the number of unspent transaction outputs (UTXOs), which could resemble the market correction seen in 2023. However, CryptoQuant cautions that a drop in UTXOs alone is not enough to confirm the end of the current bullish cycle, as other on-chain indicators suggest potential for continued upward momentum. The recent market rally was fueled by optimism surrounding US strategic asset allocation and pro-crypto policies under the Trump administration, but this enthusiasm has diminished due to a lack of immediate action and geopolitical tensions. The report suggests that new catalysts or resolution of existing uncertainties may be needed for the next uptrend in Bitcoin's price. Short-term price predictions based on historical data and on-chain metrics are challenging under current conditions. Improvement in macroeconomic conditions and a resurgence of Bitcoin's upward momentum could restore investor confidence, while prolonged uncertainty could lead to a prolonged consolidation phase.

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