[Analysis] "Bitcoin's Downward Trend, A Good Buying Opportunity"

Analysis suggests that Bitcoin (BTC)'s downward trend could present a good buying opportunity.

On the 27th, 'caueconomy', a contributor to the on-chain data analysis platform CryptoQuant, stated, "While we cannot say prices won't fall further, current price levels could present a good medium-term buying opportunity. Such opportunities don't come often."

He explained, "Bitcoin's price has fallen significantly over the past 24 hours, triggering the largest sell-off this year," adding that "On the 25th, $1.7 billion worth of coins were sold, marking the largest sell-off since August last year."

He further noted, "At that time, such selling pressure created a market bottom that became a starting point for a rebound," adding that "Bitcoin subsequently continued to rise, reaching $100,000." Today, Bitcoin is trading at around $84,700 on the Binance USDT market, down approximately 4% from the previous day.