Bitcoin traded as high as $76,900, up 4.5% from its low of $72,860. Bearish technical patterns suggest a potential drop to $60,000. Analysts predict the price could hit $40,000. A bear flag pattern confirms further downside with a target of $65,500. Miners face pressure as the Puell Multiple signals a bearish trend.

Bitcoin’s hash rate has dropped 12% since November, indicating possible miner capitulation. Binance saw a surge in BTC inflows, reaching 15,709 on Tuesday. This suggests holders are de-risking or capitulating. Analysts warn of oversold conditions and potential panic selling. Recovery may be short-lived until excess supply is absorbed.

Read more at Cointelegraph: BTC Downtrend Not Over? Why Bitcoin’s Next ‘Liquidity Magnet’ Could be $65K