Matrixport: Bitcoin is still in the bull market stage, -10% correction may be a strategic buying opportunity

Odaily reports that according to a chart released by Matrixport today, Bitcoin has shown strong resilience since the bull market began at the end of 2022, with 30-day price retracements rarely exceeding -10%. In contrast, during bear markets, Bitcoin's monthly declines are typically as high as 30% or more. Last week, Bitcoin's price approached the -10% retracement level, which is often seen as the bottom of consolidation in this bull cycle. In contrast, the sharp rallies, such as the +40% surges in March and November 2024, are usually opportunities for profit-taking. The chart clearly shows that Bitcoin is still in a bull market. As long as this trend continues, any -10% retracement could be a strategic buying opportunity compared to the price a month ago.