Bitcoin's recent stagnation and failure to push beyond the $30,000 level has led to a drop in confidence among investors. However, a recent analysis suggests that Bitcoin may be in the early stages of the next bull market, based on active addresses on a 30-day moving average. While there have been instances of market corrections, other metrics such as Bitcoin's exchange reserves being at their lowest historic levels and a resurgence in open interest affirm long-term bullish expectations. Despite this, the unpredictable nature of the market means that Bitcoin's next move is still uncertain.
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