Matrixport: Bitcoin is still in a bull market phase, a -10% pullback may be a strategic buying opportunity

Matrixport released a chart today stating that since the start of the bull market at the end of 2022, Bitcoin has shown strong resilience, with 30-day price corrections rarely exceeding -10%. In contrast, in bear markets, Bitcoin's monthly declines often reach up to 30% or even more.

Last week, Bitcoin's price approached a -10% correction level, which is often seen as the bottom of consolidation in this bull market. Looking at sharp rises such as +40% surges in March and November 2024 are usually good opportunities for profit-taking.

The chart clearly shows that Bitcoin is still in a bull market phase. As long as this trend continues, any -10% correction compared to prices one month ago could be an opportune time for strategic buying following the trend.