Bitcoin

<p>The <a href="https://blockchainreporter.net/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin</a> market has reportedly been seeing significant developments since the collapse of the notorious crypto exchange FTX. As per Glassnode, a prominent blockchain analytics provider, the chief crypto token has witnessed an 18-month bull run during the recent year, after the FTX crash. The analytics company took to its official X account to provide the details of this development.</p><h2 id="header-0">Bitcoin Market Goes Through an 18-Month Gradual Price Spike after the FTX Crash</h2><p>In its exclusive X post, Glassnode noted that, since that influential event, the market experienced a huge price elevation. During this period, the top crypto asset went through a steady price upsurge. This lengthened uptrend paved the way for a record-high level of up to $73,000 in terms of price. This hike denoted a unique all-time high for the well-known crypto token.</p><h2 id="header-1">The Lengthened Uptake Results in a Significant Price Correction</h2><p>Nonetheless, the momentum of the market started to decline in the last 3 months. Hence, the prices got into a range-bound period. The respective consolidation phase recorded the fluctuation in Bitcoin price within a thin range. This signified a pause in the upward trajectory of the market. Nevertheless, between May and July, the market saw its most extreme correction.</p><p>Therefore, the prices plunged by more than 26% from the token’s all-time high. This severe dip points toward the most comprehensive cycle correction within the present market cycle. In addition to this, it also highlights a massive shift in the overall sentiment of the investors. The data from <a href="https://glassnode.com/" rel="noopener noreferrer nofollow">Glassnode</a> discloses the volatility defining the crypto market.</p><p>The sudden alteration from a lengthened bull market to a thorough correction brings to the front the inherent uncertainties and risks concerning crypto. With the continuous evolution in the market, analysts and traders are eagerly pursuing the indications of a likely recovery or additional downturn.</p>

Bitcoin Market Witnesses 18-Month Steady Price Rise After FTX Collapse

Table of Contents

BlockchainReporter

Other articles published on Jul 16, 2024

Crypto DePIN Sector Needs This Altcoin

Your Guide to the Hottest Presales

Bearish Bear Presale: Why MASHA Crypto Investors Should Consider This New Opportunity!

Secure Your Future with Crypto Presales

Elastos BIT Index: Donald Trump is the “Bitcoin President” for US and Global Tech-Savvy Consumers...

Ethereum Gas Fees Reach Lowest Levels Since May 2024 Amidst ETF Speculation

Join our free newsletter for daily crypto updates!