Bitcoin’s rebound masks weak technicals and onchain signals that point to continued downside risk, with miners and exchange flows reinforcing the bearish trend.
Bitcoin (BTC) traded as high as $76,900 on Wednesday, up 4.5% above its 15-month low of $72,860, reached on Tuesday. However, there are increasing signs that Bitcoin’s price could experience a deeper correction over the following weeks or months.
Key takeaways:
Bitcoin confirms bearish technical patterns on multiple time frames, risking a deeper correction toward $60,000.
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