Increasing Bitcoin activity is a hint on the market, potential reversal

The Bitcoin activity address is getting closer to the highest level of three months, indicating the potential market cap of potential encryption that can be reversed in the latest modifications.

The active address of the Bitcoin network has soared to more than 912,300 on February 28, and since December 16, 2024, GlassNode data was displayed when Bitcoin (BTC) traded about $ 105,000.

According to Crypto Intelligence Platform Intotheblock, the surge in active addresses can know the “surrender moment” of the encryption market. The company was mentioned in X on February 28.

“Historically, the spike of the hot chain activity is often consistent with market peaks and floors. The panic seller is extracted and is increased by opportunist buyers.”

“Single metrics do not guarantee price reversal, but this surge suggests that the market may be an important turning point.”

In the financial market, Capitulation means investors who sell their status in panic, causing significant prices and signals to the imminent market floor before the next upward trend begins.

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Bitcoin must have more than $ 80,500 to avoid additional losses.

According to Stella Zlatareva, a dispatch editor of Digital Asset Platform Nexo, Bitcoin’s ability to maintain more than $ 80,500 can act as “potential catalyst for market stabilization.”

Zlatareva told Cointelewraph as follows:

“According to the option data, the ability to reclaim $ 80,500 for BTC will be a key element of short -term exercise. This level of brake out can no longer open a way to rise, while additional tests of the shortcomings can be continued if not set to support. ”

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Nevertheless, Bitcoin can visit this important support again if the price drops to less than $ 84,000.

According to the CoingLass data, potential modifications of less than $ 84,000 will cause more than $ 1 billion in long liquidation on all exchanges, CoingLass said.

Despite short -term volatility, the price of Bitcoin is closer to the formation of market floors than to reach the best.

Bitcoin’s MVRV Z-Score stands at 2.01 on March 1, and the price of Bitcoin is approaching the green area at the bottom of the chart, and more and more holds are increasing.

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