Is Bitcoin going to $65K? Traders explain why they're still bearish
Bitcoin is paring recent losses but still struggles to sustain its uptrend, leading some analysts to predict another drop to as low as $65,000.
Bitcoin (BTC) rebounded by as much as 14% after plunging to a four-month low near $76,600 on March 11. But BTC price is down approximately 25% from its record high of around $110,000, which is normal for a “bull market correction.”
Still, some analysts anticipate the Bitcoin price declines to continue in the future.
Bitcoin faces renewed bearish pressure after rejecting at $87,470, the descending channel resistance, with a “dark cloud cover” pattern reinforcing the downtrend, according to an analysis shared by GDXTrader on X.
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