Bitcoin may fall lower but BTC power-law frames crash to $58K as ‘normal’
Bitcoin’s drop to $58,000 lines up with the power-law model’s cycle lows, even though futures market data points to deeper lows for BTC price.
Bitcoin’s (BTC) drop to $58,000 has pushed the price into a zone that long-term power-law models have historically associated with cycle bottoms. The data does not confirm a bottom range, though it shows BTC trading in a price range that has repeatedly marked major lows since 2014.
Derivatives data and liquidation levels highlight $55,000 as the next key support level and the $65,000-$68,000 range as the next major upside area of interest.
Bitcoin power-law puts $58,000 in historical range