Analysts at Bexplus believe that after nearly a month of sideways trading, BTC has been near the cost of investors in the near future, and it is more difficult to leave this area. However, the number of active addresses has retraced, and when most investors wait and see in the short term, the market will be triggered when the activity rebounds.
From the perspective of cost price, the short-term BTC is slightly lower than the 30-day moving average, indicating that the current price is already lower than the cost price of investors.
At the same time, the number of active addresses on February 1st was 980,000, far lower than the peak of 1.34 million on January 6th. At the same time, it is also lower than the short-term average value of 1.1 million, indicating that after the trading enthusiasm of more investors is suppressed, short-term activity has extremely high room for recovery. Once the activity rebounds and the intensity of BTC volatility increases, new trend signals will also be confirmed.
In terms of mainstream cryptocurrencies, there are still many trading opportunities in the near future, with low-price buying as the main focus, but controlling buying positions. The profit opportunity waits for further confirmation after BTC pulls.
The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.