Crypto analyst Ali Martinez has identified $60,365 as a critical price level for Bitcoin, urging that a break below this threshold could lead to a drop to $57,000. Conversely, maintaining above this level could pave the way for a rebound to $63,300. The analyst considers the $60,000 support level crucial for Bitcoin's trajectory.
Martinez also notes Bitcoin's downward pressure as observed in past market value corrections, foreseeing a potential further decline. Supporting this view, analyst Justin Bennett predicts a drop to $57,000, also noting possible volatility due to upcoming U.S. job reports and related inflation data, which could influence market movements.
Veteran trader Peter Brandt highlights a bearish 'Three Blind Mice' pattern, suggesting potential further declines in Bitcoin. However, some analysts see a potential price crash as a necessary precursor for future surges, with Santiment considering it a cooling-off period before Bitcoin's next rally.
