Bitcoin's price has decreased to the $60,000 region after briefly rising above $63,000. CryptoQuant analyst Aytekin suggests that a final shakeout may occur before the next big move, as previous corrections have followed high open interest levels. The market sentiment appears divided, with some expecting an upside move and others believing in a strong downward trend. Funding rates indicate that long traders are dominant, but significant price corrections have occurred when rates turned negative. While a potential shakeout may happen, the depth of the correction may not be severe. Bitcoin's recent price action shows market indecision, and prominent analyst Ali suggests that further downside is possible unless Bitcoin clears the $66,000 resistance level. A bullish breakout is unlikely without surpassing this level.
- Content Editor ( newsbtc.com )
- 2024-10-11
Bitcoin On The Brink: Will $60K Hold Or Is A Major Correction Coming?