The Bitcoin (BTC) price has entered a strong consolidation and trading around the $29,000 level for a while leaving investors confused amid the subdued price volatility.
While the BTC price recently corrected from $32,000 to $29,000, the total number of new Bitcoin addresses has continued to rise.
In a post on TradingView last week August 4, crypto trading analyst TradingShot noted that Bitcoin has just crossed the golden-cross indicator for the third time in history. Thus, it could be the beginning of a new bull rally to another record-high level.