Bitcoin (BTC) has garnered unprecedented attention from the crypto community recently, more so than is typically the case.
The world’s foremost cryptocurrency recently saw the approval of the very first spot BTC exchange-traded funds (ETFs) in January, has been leading a multi-stage crypto market rally since October 2023, and is bound for its halving event in two months’ time.
On top of these, the last few weeks saw Bitcoin surge and, despite a brief decline in the wake of the latest CPI report, cross above $1 trillion in market cap and above $52,000 per coin.
Such a sudden rise caused many to wonder if the cryptocurrency can continue climbing to the halving itself – an event that historically saw massive increases in Bitcoin’s price – or if a correction, perhaps to as low as $36,000, is inbound.
Why? On the morning of Thursday, February 15, a renowned crypto expert warned on X that a reliable technical indicator signaled a strong sell signal on BTC’s daily chart.
Technic
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