bacaartikeldisiniaja -- After briefly trying to break above $72,000 last week, Bitcoin (BTC) price has been trading under steady selling pressure, down nearly 6.5% on the weekly chart. At the time of writing, BTC is trading down 1.15% at $66,687 with a market capitalization of $1.314 trillion.
Bitcoin Buy The Dip Calls Surge According to online data provider Santiment, there has been a notable increase in Bitcoin buying interest following the recent drop below $67,000.
This is the second largest increase in BTC buying interest in the past two months.
On the other hand, the crowd remained very quiet about interest in sales.
On the other hand, the accumulation process of Bitcoin whales continues systematically.
According to the latest report, amid strong institutional interest, the number of entities holding more than 1,000 BTC has now reached a new record.
However, Bitcoin miners have also sold in large quantities to cover post-halving operating costs.
In another interesting perspective, crypto market analyst Rekt Capital says Bitcoin's current struggle to make a decisive breakthrough is beneficial and beneficial to the market cycle shared.
He added that Bitcoin has never exploded so early in the post-halving period.
Rekt Capital also said an early breakout could accelerate the cycle, potentially shortening the duration of the bull market.
Instead, the ongoing phase allows BTC price to align with historical halving cycles, paving the way for a sustained uptrend.
BTC Price Could Fall to $48,000 Famous market analyst Peter Brandt shared his views on the future BTC price trajectory, in which he shared the clearest interpretation of the chart Bitcoin chart suggests the following possible scenarios.
If Bitcoin price breaks above $65,000, it could drop to $60,000.
However, if Bitcoin price falls further below $60,000, it could correct another 20% to $48,000.
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