Bitcoin is in a consolidation phase following weeks of intense selling pressure and heightened fear in the market.

On-chain data shows that the active addresses of Bitcoin have seen a reversal recently, which could be positive for the cryptocurrency’s price.

Bitcoin has seen a rebound back above the $43,000 level during the past day. Here’s a possible reason behind this reversal in the asset.

Data shows that Bitcoin investors have been showing signs of fearful sentiment as the price of the cryptocurrency has plunged below $27,000.