Viewpoint: BTC recovery trend stagnates again, and may fall to $75,000 or lower in the short term

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MarsBit
03-26
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Mars Finance News, CoinDesk's Token and Data Team Co-Head Shaurya Malwa wrote that Bitcoin's price recovery has entered a Double Top bearish pattern at $87,000, increasing the risk of another potential decline. If the price decisively breaks below the support level between the two peaks (known as the neckline), it could lead to a price drop to $75,000 or lower in the short term, while still remaining in a long-term upward trend. In the analysis of renewing, traders responded positively to the Federal Reserve's dovish stance on inflation and the cooling of concerns about upcoming U.S. tariffs, which supported Bitcoin's rise over the past week. However, the recent price movement of Altcoins lacks correlation with Bitcoin, suggesting that the current price trend may lack broad market support, thereby increasing the possibility of a "false breakout" rebound. (CoinDesk)

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