According to CoinMarketCap, the price of Bitcoin has dropped a lot in the last week, by 5.25 percent, to below $60,000. That’s three drops in a row for Bitcoin in the last month. During that time, the price has dropped 9.88%. People are now buying Bitcoin again, even though it has lost a lot of value and many people thought it would stay in a stabilizing phase.
Ali Martinez, a well-known crypto analyst, pointed out an important change in Bitcoin’s general downward trend. Martínez wrote on X on Saturday that the number of new Bitcoin (BTC) addresses rose to 352,124 on Friday, the highest level since April and the end of a downward trend that began in November 2023.
Bitcoin Price Fluctuates Significantly
This information shows that regular people are investing in BTC again, which means that big players in the market are also interested again. Retail investors, who usually trade assets for smaller amounts than institutions do for their own accounts, are very important to the security and liquidity of the market.
An increase in small buyers is often a sign that more people want a token, which could cause the price to go up. People who have extra money and are ready to invest in risky assets like BTC are likely to have a lot of new addresses. Also, the increased activity among small investors may show that more people are optimistic about BTC future market possibilities.
Bitcoin’s value went up by 0.92% on Saturday, and it quickly surpassed $61,000. But it’s still not clear if this rise will help the coin’s market recover in the long run.
Bitcoin is worth $60,884 right now, but it has gone up and down in price between $60,100 and $63,200. The token is now worth $12.7 billion and is worth 49.16% less than it was a day ago. The price of BTC could go back to $67,000 if BTC fans can get enough people to buy that it breaks out of this range. It could get as low as $40,000, though, if the price falls even more.
