3 hours ago
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BEARISH 📉 : Bitcoin’s early top disrupts market, leads to $60K retracement
The recent decline in Bitcoin's price toward $60,000 was analyzed by BitQuant, which explained this as a necessary adjustment rather than panic or manipulation. Key points include:
- Bitcoin's local top was expected at $145,000 but peaked early at above $126,000, leading to market structure disruption.
- A technical issue at Binance triggered a significant drop from $120,000 to $105,000, adding volatility.
- The early peak disrupted Bitcoin’s natural cycle of distribution and correction, leading to its retracement to the $60,000-$62,000 range.
- A proper market structure would have seen Bitcoin reach $145,000, correct by 25-30%, and then establish a strong base for future growth.
- Despite structural flaws, Bitcoin has established a new setup supporting further expansion.
- This is viewed as a continuation of the current market cycle that began around $16,000, not a new cycle.
- Bitcoin's performance depends on investor perception of the upcoming moves as part of the existing cycle or the start of a new one.
Bitcoin has slightly recovered and is trading back above $67,000.