After a brief cooling on August 5, Bitcoin quickly rebounded from around $50,000, showing its resilience under geopolitical uncertainty and recessionary pressure. The rebound is mainly attributed to investors' continued attention and confidence in the cryptocurrency market.

Market Overview

In the past 24 hours, the price of Bitcoin has stabilized in the range of $55,000 to $57,000, and hit a local high of $57,220 earlier today. As of the latest information, the asset is trading at $57,033, achieving a daily increase of 1.89%, indicating that the market still maintains a certain upward momentum.

Market Analysis and Forecast

Although the current market sentiment is optimistic, market analysts have not ignored potential risks. Some experts warn that there is still a possibility of further decline in the market, especially in the context of investors generally viewing the current low as a buying opportunity. A well-known cryptocurrency market analyst recommends that investors wait for the price of Bitcoin to fall below $40,000 before entering the market, in order to obtain a more favorable buying price in the next bull market. It is worth noting that this price is slightly lower than the trading level of Bitcoin in February this year (about $42,577).

Accumulation opportunities

Many analysts believe that Bitcoin may experience a deep correction before launching a new round of gains, providing investors with an opportunity to accumulate chips. Currently, the price of Bitcoin is still about 22% lower than its all-time high of $73,750, which leaves a large room for appreciation for long-term investors.

Profitability of Bitcoin Wallets

According to data from IntoTheBlock, although the market is generally profitable, there are still 9.87 million Bitcoin addresses in a loss-making state. Among them, the average purchase cost of 6.88 million wallets was $66,441, while another 2.99 million holders paid an average of $59,978. This data shows that although the market has recovered, there are still a large number of investors who have not yet realized profits, which may also affect the subsequent trend of the market to a certain extent.

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