Bitcoin Dump Expected, BTC In The “Boring Zone” As Whales Exit
Summary
Bitcoin is facing selling pressure, dropping from $66,000 and may fall below $60,000 to $56,500 or May 2024 lows. Analysts see this as a normal post-halving correction and suggest accumulating on dips, targeting Q1 2024 highs. The current price action aligns with historical trends after the network halves miner rewards. BTC is in the fifth epoch after halving, and prices tend to rally before halving. Whales have been dumping BTC, with long-term holders selling around $1.2 billion worth of the coin, suppressing prices.
