**Bitcoin Price Watch: Analysts Weigh In**

Bitcoin (BTC) is currently trading around $66,894, but some analysts believe a dip below $58,800 is needed for a bearish trend to be confirmed. Crypto analyst Matthew Hyland suggests anything above that level is just "noise."

Meanwhile, Glassnode's James Check advises long-term holders to stay patient and avoid panic buying, noting that price pullbacks are inevitable due to high leverage in Bitcoin futures. The futures market recently hit a new high with 566,270 contracts.

Market sentiment is currently in a "Greed" state, with the Crypto Fear and Greed Index at 71. However, not all traders expect a significant drop. Pseudonymous trader Wolf predicts a minor pullback to the $63,200-$64,400 range before a potential breakout.

In other news, Bitcoin ETFs have seen significant inflows, surpassing $20 billion, with BlackRock alone recording $393.4 million on October 16.