Bitcoin experienced a notable drop to $58.5k, marking a significant downturn amidst Fed rate speculation. The daily chart shows a V-shaped recovery initially, but faced resistance near $60.5k.
The resistance led to a bearish exit over the weekend with a 0.88% drop on Saturday, resulting in a third consecutive bearish candle.
As the market braces for potential hikes in Fed rates, the question remains whether the bulls can drive Bitcoin back to $63.8k.
