BONK's price recovery depends on Bitcoin's performance

Bullish investor actions could help BONK (CRYPTO:BONK) recover from a 50% correction last month.

Recent positive funding rates indicate increased investor confidence and a bullish market sentiment.

BONK's high correlation with Bitcoin suggests it could benefit significantly from any Bitcoin price recovery.

If BTC (CRYPTO:BTC) stabilises and rises, BONK's price is likely to follow suit, potentially leading to gains for investors.

Currently, BONK trades at a three-month low of $0.00002103, just below its support level.

If BONK climbs above $0.00002500, it could reverse the recent drawdown and target higher prices.