Matrixport: Bitcoin pulls back after 40% increase, $90,000 to $95,000 may be an excellent pullback range

Odaily reports that Matrixport released a chart today, stating that when Bitcoin surged over 40% within 30 days, we had previously suggested that a period of consolidation might follow the rapid increase, as such a swift rise is usually difficult to sustain. It has proven to be the case, as Bitcoin has experienced a pullback after completing a 40% gain, which is consistent with the patterns of previous cycles. The current price is approximately 3% lower than a month ago. During a bull market, a price retracement of 10% to 20% from the recent high often forms an ideal re-entry zone. For example, if Bitcoin's high was $108,000, a consolidation between $90,000 and $95,000 could be an excellent correction range. As long as the price remains within a -20% retracement and continues the current cycle's trend, it could lay a solid foundation for the next round of an uptrend in 2025.