Bitcoin (BTC) has reached its lowest point since March 17, nearing two-month lows due to concerns about a potential “head-and-shoulders” pattern that could put bears ahead. Despite favorable macroeconomic conditions for risk assets, Bitcoin failed to capitalize on potential gains as bid liquidity declined. Multiple traders have already predicted a retracement to $25,000 or lower, and concerns are rising on whether the pair will remain lower after three local tops. However, some traders, like Philip Swift, co-founder of DecenTrader and creator of LookIntoBitcoin, are confident that the worst losses will soon be over as the long/short ratio diverges, with long positions now prevalent. The article emphasizes that this is not investment advice and readers should perform their own research before making any investment decisions.
Bitcoin enters $26K ‘bearadise’ as BTC price approaches 2-month lows
