Bitcoin price may need to drop below $60,000 before continuing upward trend

From Cointelegraph
August 11, 2024 10:25 am:

Bitcoin’s price may need to drop below $60,000 before a continued uptrend, according to market expectations. However, a metric measuring market tops and bottoms indicates that the worst may already be behind us.

This prediction suggests that Bitcoin’s current drop is a temporary setback and that the overall trend may soon resume its upward trajectory.

Investors should keep a close eye on Bitcoin’s price movement as it nears the $60,000 threshold, as it could be a crucial turning point for the cryptocurrency’s future performance.

Read more at Cointelegraph: Bitcoin metric calls ‘local bottom’ as traders eye sub-$60K BTC price