Bitcoin 2024 buyers steady BTC price as trader sees $52K 'next week or so'

💡 DMK Insight

Bitcoin’s current price of $66,384 is under pressure, and here’s why that matters: The recent research indicates that two-year hodlers have been absorbing selling pressure, which suggests a strong underlying demand. However, the prevailing sentiment among analysts points to the likelihood of new macro lows. This dichotomy creates a critical inflection point for traders. If hodlers continue to hold firm, we could see a potential rebound, but if broader market conditions worsen—especially with looming economic indicators like inflation and interest rates—BTC could test lower support levels. Watch for key technical levels around $60,000, as a break below could trigger further selling. On the flip side, if Bitcoin manages to hold above this level, it could signal a buying opportunity for swing traders looking to capitalize on potential upside. Keep an eye on volume trends and market sentiment, as these will be crucial in determining the next move. The real story is how hodlers react to any bearish news; their resilience could be a game changer.