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

Matrixport released today's chart saying that when Bitcoin surged more than 40% in 30 days, we had suggested that a period of consolidation might follow the rapid rise, because such a rapid rise is usually difficult to sustain. It turns out that Bitcoin has a pullback after completing a 40% increase, which is consistent with the pattern of previous cycles. The current price is about 3% lower than a month ago. In a bull market, a 10% to 20% pullback from a recent high often forms an ideal re-entry range. Taking Bitcoin's high of $108,000 as an example, if the price consolidates between $90,000 and $95,000, this may become an excellent pullback range. As long as the price remains within the -20% pullback range and continues the trend of the current cycle, it is expected to lay a solid foundation for a new round of increases in 2025.