Despite Bitcoin briefly falling below the $60,000 mark, the cycle could be entering a reaccumulation period, according to one crypto analyst.
Bitcoin price briefly fell below $60,000 only a few days before the much-anticipated Bitcoin halving. Yet, many traders remain optimistic about Bitcoin’s long-term price outlook based on historical chart patterns and institutional inflows.
Despite the recent price correction, Bitcoin (BTC) reclaimed a key moving average indicator, which signaled the start of the bull runs during previous market cycles, according to popular crypto analyst Moustache, who wrote in an April 16 X post:
Bitcoin has been in the pre-halving “danger zone” for a month since March 14, according to popular crypto analyst Rekt Capital, who wrote in an April 17 X post:
