Bitcoin Price Drops on Middle East Conflict, But Market Stabilizes

- The daily chart shows that Bitcoin price has dropped below $64K and the 200-day moving average. However, the $60K support zone has held, pushing the price back closer to this moving average.

- If rejected at the 200-day moving average, the price could drop further to $56K or even $52K.

- The 4-hour chart shows that the market structure has turned bearish, but the $60K zone could be the bottom as the RSI shows oversold conditions.

- On-Chain Analysis: Bitcoin Net Profit and Loss Index (NRPL) shows that the market could be preparing for a new rally in the coming months. 📈

🔗 Source: CryptoPotato