June 26 (Cointime) - Bitcoin's price has dropped by 1.1% over the last 24 hours and is currently trading at $30,308. Despite a bullish outlook over the weekend, Bitcoin was unable to sustain gains beyond its 12-month high of $31,428.
Analysts predict that this correction is part of a larger uptrend and that Bitcoin may circle back to $30,000 or $29,000 to allow more buyers to join the market. On-chain data from Glassnode shows that the percentage of Bitcoin supply held across exchange addresses has continued to drop, creating a suitable environment for a rally.
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