Bitcoin maintains its “bullish market structure” despite retesting the $60,000 support level.
- Analyst Rekt Capital dismissed the fearful market sentiment regarding BTC’s price action at $60,779.26.
- He noted that Bitcoin recognizes the $60,000 level as a psychological threshold and that retesting it is not a concern.
- BTC/USD has fallen by about 6% in the last three days, but the market structure is still bullish.
- Analyst Jelle stated that BTC/USD continues to maintain its important resistance/support reversal.
- Cointelegraph had previously reported that the BTC price could fall below $60,000.
- Mark Cullen predicts that BTC could fall to $57,000.
- Checkmate analyzed profit-taking by short-term investors, noting that a drop below 1.0 in the STH-SOPR metric could create a “buy the dip” opportunity.
