Bitcoin

Time

Coin

<ul class="wp-block-list news-points"> 
 <li>Bitcoin rebounds near $60K, but on-chain metrics signal caution.</li> 
 <li>US economic resilience offers potential support to the crypto market.</li> 
 <li>Kamala Harris’ potential crypto policies raise regulatory uncertainty.</li> 
</ul> 
<a href="https://coinedition.com/bitcoins-next-big-move-analysts-predict-a-potential-bull-run/">Bitcoin</a> has surged nearly 28% from its recent low of $49,000, climbing back near the $60,000 level. This rebound follows a notable drop in August, where Bitcoin’s price tumbled by 33.32% from its cycle high of $73,666. This decline was the largest of the current cycle. 
At press time, Bitcoin price is <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="nofollow">$59,676.84</a> with a 24-hour trading volume of $35,050,958,497. Bitcoin is down 1.24% in the last 24 hours with a market cap of $1,177,959,350,244. Over the last 7 days, Bitcoin has risen by 8.88%. 
Key metrics, such as the Mayer Multiple, show the severity of this downturn. The Mayer Multiple fell to 0.88, a level not seen since the <a href="https://coinedition.com/?s=ftx">FTX</a> collapse in November 2022. This indicates a strong bearish phase, with Bitcoin trading far below its historical average. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXe-fUqZBghpdhMBDyGoMon4m7Fz8a5eVpisfrDFtJkVZUkJ_e9ojsDRgu0ZI5ecn1NWRFXTs4yCE9bLZF06u4da_iJbscO9EHalsTv-pF1mQfA1FHsQVHdiiO7mCICBLiFPu6P5F6s6tkIkn8WrptwakE_K?key=JpfoN4qo6_HJD-drqcOj8A" alt="">
</figure> 
Source: <a href="https://blog.bitfinex.com/wp-content/uploads/2024/08/Bitfinex-Alpha-117.pdf#page=8" target="_blank" rel="nofollow">Bitfinext-Alpha-117</a> 
On-chain metrics also highlight the intensity of the recent sell-off. The Short-Term Holder Realised Price (STH Cost-Basis) sits currently at $64,860. Bitcoin’s spot price…
The post <a href="https://coinedition.com/is-it-time-to-buy-bitcoin-analyzing-the-recent-dip/">Is it Time to Buy Bitcoin? Analyzing the Recent Dip</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Is it Time to Buy Bitcoin? Analyzing the Recent Dip

Coin Edition

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