Rising Bitcoin active addresses suggest potential market reversal from recent correction

From Cointelegraph

March 2, 2025 05:10 AM:

Bitcoin active addresses are approaching a three-month high, hinting at a potential market capitulation for a price reversal from the recent correction. Active addresses surged to over 912,300 on Feb. 28, a level not seen since Dec. 16, 2024. Market data suggests on-chain activity spikes coincide with market peaks and bottoms. Bitcoin must hold above $80,500 to prevent further losses and stabilize the market. A failure to reclaim this level could lead to more downside testing. If Bitcoin drops below $84,000, it could trigger over $1 billion in leveraged long liquidations. Despite short-term volatility, Bitcoin’s price is closer to forming a market bottom, with the MVRV Z-score indicating oversold conditions.

Read more at Cointelegraph: Rising Bitcoin activity hints at market bottom, potential reversal