Analyst: Bitcoin is approaching the starting point of the most aggressive position in the bull market cycle
Technical analyst Tradingshot stated that Bitcoin is approaching the "starting point of the most aggressive position in historical bull market cycles," and predicted that the price of this cryptocurrency could rise to $300,000. This price is a technical prediction because these are measurements from high to low when touching the MM (Mayer Multiple) average value.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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The article, based on on-chain data analysis, points out that the recent sharp decline of the $EIGEN token (a 53% plunge on October 10) is not merely a result of market panic, but rather a manifestation of a deeper underlying issue. The real core risk lies in the massive and continuous token unlocks over the next two years, which will exert tremendous selling pressure. The smartest and most profitable traders had already anticipated this and systematically exited their positions weeks before the market crash.

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