Bitcoin (BTC) has surged back above $60,000, offering hope for market rebound
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CryptoQuant, a leading on-chain analytics platform, recently shared insights suggesting a possible short-term rebound for the BTC price. According to its The indicator cited, known as the Bollinger Band applied to SOPR on-chain data, offers valuable insights into market sentiment and potential price trends. CryptoQuant highlighted the relationship between short-term SOPR and Bitcoin's price dynamics, particularly in bull markets.
The analysis suggests that during bull runs, a short-term rebound often coincides with the short-term SOPR reaching the bottom of the Bollinger Band. Notably, amid the current market adjustment, sentiment among general investors has been Consequently, experts anticipate a rebound in Bitcoin's price following this adjustment period.
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