Bitcoin Nearing $60K: Is a Major Correction Ahead? 📉

After briefly surging past $63,000, Bitcoin has dropped below $60,000 today, raising questions about the market's direction. Analyst Aytekin from CryptoQuant suggested that a final shakeout could precede the next significant move.

Key Insights:

Bitcoin has crossed the $18 billion open interest threshold, a level historically linked to major corrections.

The market is split: some predict a substantial upward movement, while others anticipate continued downtrends.

Aytekin noted that financing rates are currently just above the 200-day SMA, indicating dominance among long traders, but large corrections often follow when rates turn negative—something that hasn’t occurred yet.

He suggests that while a last shakeout is possible, it may be milder due to low financing rates.

Current BTC Outlook:

Bitcoin is showing signs of hesitation, struggling to break key resistance levels. It recently fell 2.9% to $60,485, following a climb to $63,774 earlier this week, which had sparked hopes for movement beyond $65,000 and $70,000. Expert Ali has pointed out that Bitcoin is still within a “descending parallel channel.”

Stay informed and ready for market shifts!#BinanceLaunchpoolSCR #FanTokensRising #moonbix PeterToddHBOSatoshi#FanTokensRising Nakamoto?#Write2Earn!