Bitcoin (BTC) has experienced a decline of 4.4% over the last week, prompting worries that the leading cryptocurrency by market capitalization could be on the verge of a significant price drop due to ongoing global economic uncertainties.
Nevertheless, new on-chain data indicates that this current downturn may be approaching its conclusion. Analysts suggest that the recent dip in Bitcoin's value could soon stabilize, potentially signaling a turnaround for the cryptocurrency market.
