Bitcoin price wavering around $60000 for the past three weeks has created an uncertain sentiment among crypto participants. The consolidation trend could be linked to mounting recession fear, a series of outflows from BTC ETFs, and the lack of a clear bottom formation. However, such FUD often shakes out the speculative short-term traders.
Despite these uncertainties, multiple buy signals have emerged, which suggests that Bitcoin's price could hit $70K soon. Such buy signals are often an indication that long-term investors believe in the upward potential of Bitcoin, creating a more stable market sentiment.
The post originally appeared on CoinGape, indicating that the information provided is derived from credible sources deeply embedded within the crypto market.
