Bitcoin Resilience: Is the Recent -10% Retracement a Strategic Buying Opportunity?
On January 27th, COINOTAG reported on insights from Matrixport, noting that **Bitcoin** has demonstrated remarkable **market resilience** since the bull phase commenced in late 2022. Over the last 30 days, Bitcoin has maintained price adjustments below **-10%**, a stark contrast to the monthly downturns of 30% or more commonly observed in bear markets. Recently, Bitcoin neared a crucial retracement threshold, often interpreted as a consolidation bottom indicative of a robust bull cycle.
Additionally, significant price movements have been recorded, with **sharp surges** of over **40%** occurring in March and November of 2024, presenting **strategic profit-taking** scenarios for investors. Analyzing the ongoing trend, it appears that Bitcoin remains firmly within a **bull market**, suggesting that a -10% retracement may offer an advantageous moment for investors seeking to capitalize on potential upward momentum.