Buy $72K dip, or jump ship: What will Bitcoin bulls do?
Investors selling across spot, futures and ETF markets pushed Bitcoin into its monthly range lows near $72,000 but data shows retail investors buying the dip and opening longs.
When Bitcoin (BTC) finally escaped from its channel pattern and secured a multiple-day close above the $77,000 resistance, traders rejoiced and declared the downtrend over.
Fast-forward to the present and BTC has fallen below multiple support levels and appears at risk of retesting $70,000, a 16% decline from its range highs.