🔁 Bitcoin has rallied 47% off its low. That sounds like a strong recovery - but has it happened before, and what happened next?
Binance Research looked at every time this happened since 2011 (7 times total):
When Bitcoin had fallen a LOT before bouncing → the bounce held, and price went on to new highs
When Bitcoin had only fallen a little before bouncing → the bounce failed 4 out of 5 times, and price dropped again
Right now, Bitcoin only fell a moderate amount before this bounce - putting it in the group that usually failed in the past.
$BTC $ETH $SOL
Binance Research looked at every time this happened since 2011 (7 times total):
When Bitcoin had fallen a LOT before bouncing → the bounce held, and price went on to new highs
When Bitcoin had only fallen a little before bouncing → the bounce failed 4 out of 5 times, and price dropped again
Right now, Bitcoin only fell a moderate amount before this bounce - putting it in the group that usually failed in the past.
$BTC $ETH $SOL