Bitcoin is experiencing a critical moment as it trades around a key psychological support level of $60,000 after a 10% decline. This dip was brief, yet significant, causing investors to focus on the potential rebound opportunities.
Currently, Bitcoin's price has demonstrated resilience and has bounced back, setting the stage for a promising outlook. As it holds these levels, both investors and analysts are optimistic about a prospective sharp and rapid rally.
This optimism is bolstered by potential demand increases attributed to US Spot ETFs. Such financial products could stimulate further interest and investment in Bitcoin, potentially leading to substantial price growth in the fourth quarter of 2024.
