Bitcoin is at ‘pivotal level’ as $65K downside risk looms: Analyst
While Bitcoin is hovering around $73,000, a crypto trader says the current setup is “different from the previous breakdown in February.”
Bitcoin could fall toward its February yearly low if it fails to maintain support above the $70,000 level, according to a crypto analyst.
“Bitcoin is at a pivotal level, and if it doesn’t hold, we’re buying at <$65K,” MN Trading Capital founder Michael van de Poppe said in an X post on Saturday. Bitcoin (BTC) reached a yearly low of $60,000 in early February before recovering to $73,873 at the time of publication, according to CoinMarketCap.
It comes as crypto market participants are divided over whether Bitcoin’s early February price of $60,000 marked the bottom of the cycle, or if further downside still lies ahead.