Bitcoin is weak at spot rates, contracting from July 2024 peaks to below $66,000. As bears press on, targeting the round number at $60,000, bulls are optimistic, expecting a rebound in the coming sessions.
Technically, the zone between $66,000 and $70,000 is a crucial zone that buyers must decisively break for the uptrend to develop. Any lift-off above $72,000 would be ideal, as it is the last resistance before an all-time high of around $74,000.
Bitcoin Struggling: Will Bulls Absorb Rising Inflows To Exchanges?
Though Bitcoin might find strength, one analyst thinks the coin will continue posting lower lows, confirming losses for the better part of this week. In a post citing CryptoQuant data, the analyst picked out how age bands have evolved over the past years and months.
Analysts use age bands to categorize coins based on the last time they were moved on-chain. Some were moved within the last week, others within the past quarter, and others within years. The analyst not
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