Bitcoin (BTC) faced a challenge as it dropped below the $60,000 support level on May 10, causing concern among investors. The sudden drop prevented the cryptocurrency from maintaining levels around $63,000, and the reason behind it remains unclear. Some speculate that large-volume institutional players may be involved, with the possibility that they do not want Bitcoin to break out over the weekend when the BTC ETF market is closed. A chart from Binance shows a sell wall at around $62,500, which could potentially push the price down further. However, popular trader and analyst Rekt Capital suggests that the “danger zone” for Bitcoin, which typically occurs after a halving event, is coming to an end. In April, Rekt Capital accurately predicted a period of downside for Bitcoin, which resulted in the cryptocurrency reaching two-month lows of $56,500. It is important for readers to conduct their own research and exercise caution when making investment decisions.
BTC price retests $60K as Bitcoin halving 'danger zone' enters final 48 hours