Is Bitcoin's New 5% Tumble Still A 'Bull Market Correction'?
Portfolio Pulse from Khyathi Dalal
Bitcoin (BTC) experienced a 5% drop, prompting traders to predict $60,000 as a key support level. Despite the drop, traders believe this is a bull market correction and expect Bitcoin to recover. Data shows a decrease in daily active addresses and large transactions, while miners have offloaded significant amounts of Bitcoin.
June 24, 2024 | 1:11 pm
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Bitcoin's 5% drop is seen as a bull market correction with $60,000 as a key support level. Despite decreased activity and miner sell-offs, traders expect recovery.
The article discusses Bitcoin's recent price drop and traders' perspectives on it being a bull market correction. Key support levels and historical patterns suggest potential recovery, but decreased activity and miner sell-offs add uncertainty.
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