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Bitcoin hitting $59K would be ‘extremely healthy,’ says trader as BTC price retreats
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Bitcoin (BTC) dipped below $64,000 on Nov. 12 as its comedown from new all-time highs continued to unnerve.
Data from Cointelegraph Markets Pro and TradingView captured fluid market conditions on Friday, with BTC/USD acting in a $2,000 range.
The pair had spent the previous day tracing sideways — behavior that was now showing signs of breaking down.
For popular analysts, however, such BTC price action was not only expected but welcomed.
Sideways :)
“A drop to 59-61k followed by some consolidation would be the best way to continue the bull-run in my opinion,” Twitter trader Galaxy added.
Funding rates remained slightly elevated on exchanges — with the exception of Binance and Bybit — further hinting that a potential price dip could follow.
At the
Read more on cointelegraph.comAbout this in other media
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