The storm seems to have passed for Bitcoin according to Rekt Capital! Several experts agree that the crypto queen has just emerged from the dreaded “danger zone”, generally following the halving. With a price below $65,000, the path to new highs could well open up now.
The storm has calmed for Bitcoin
So what is this “dangerous zone” from which Bitcoin is finally extricating itself? This is a three-week window following the halving, historically conducive to marked downward volatility below the reaccumulation threshold. However, this time, not only did Bitcoin produce a strong correction after the quadrennial event, but above all it managed to maintain itself vigorously at the $60,000 level.
In other words, the bearish effect usually lasting during this period seems this time to have fizzled out! A clear reaccumulation which, due to the calendar, would indeed mark the end of this volatile episode traditionally unstable for prices.
The appetite returns for the crypto queen
If the winds are technically calming down for Bitcoin, it is also because the appetite for the crypto queen seems to be returning with a vengeance among investors.
For Willy Woo, this downward trend towards capitulation seems to be over. The famous strategist even observes an upside potential that is still largely under-exploited on the key VWAP indicator. Perspectives corroborated by the fear index which is frankly turning to greed in recent days.
Another strong signal? The strong return of capital inflows into Bitcoin ETFs after a long period of hemorrhage. With a record gain of 378 million in a single day, institutional investors are showing a feverish renewed confidence in this asset class.
After weeks of turmoil, Bitcoin seems ready to return to a more stable and ascending course. Secured at the key level of $60,000, the king digital asset would have overcome the traditional post-halving slump. Faced with this almost cleaned-up decor, eyes are now turning towards a future surge in prices beyond $70,000.
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