Analysts are evaluating Bitcoin's current market position to determine if the cryptocurrency retains its bullish trend or risks a significant plunge of over 30%. Despite recent downturns, some analysts point to on-chain indicators such as Bitcoin Coinbase Flow Pulse as evidence of an ongoing bullish trend.
In discussions presented by CryptoQuant author Axel Adler Jr, these indicators suggest that the market might still be favorably inclined towards Bitcoin, even amidst a general market pullback. This paints a potentially optimistic future for Bitcoin, contradicting fears of a massive plunge.
Analysts are divided, however, and the predictions about Bitcoin's immediate future are based heavily on different interpretative models and data watching. Market participants remain vigilant as they try to navigate through these uncertain times with a balanced outlook on Bitcoin's price trajectory.
