Authored by Nancy Lubale via CoinTelegraph.com,
Market analysts said Bitcoin’s (BTC) upside remained intact despite the 2.5% correction from its multi-month high of $82,800 reached on May 6.
Bitcoin has successfully re-entered expansion territory as the Bull Market Support Band turned to support.
Bitcoin’s Stablecoin Supply Ratio has recovered from historic lows, indicating fresh liquidity is returning.
Bitcoin’s spot taker CVD flips positive, suggesting real spot demand is back
Private wealth manager Swissblock stated that Bitcoin is “still at full momentum,” despite the slight correction from recent highs.
Swissblocksaidthat the latest rally saw the Bitcoin price momentum “successfully reignited and pushed back into full expansion territory.”
Bitcoin is now consolidating inside the cost-basis battlefield, with the true market mean and the short-term holder cost basis around $80,000 acting as support and theactive realized price at $85,000 as resistance.
Meanwhile, “momentum remains structurally strong,” the wealth manager said, adding:
Bitcoin price momentum. Swissblock
Source: ZeroHedge News
