The Bitcoin price has recently experienced heightened volatility, causing the largest cryptocurrency in the market to briefly drop below the significant threshold of $60,000 for the first time since March 5.
This price decrease comes just days before the highly anticipated Halving event scheduled for Friday. This event has traditionally been viewed as a positive catalyst for Bitcoin’s value due to its impact on token supply.
However, market participants are questioning whether the Halving’s effects are already factored into the current market conditions, leading to extended bearish sentiment.
Long-Term Bullish Outlook Prevails
Bitcoin’s decline saw it plummet by 5% to $59,890, though it recovered some losses shortly afterward. Since reaching an all-time high (ATH) of $73,700 on March 14, the Bitcoin price has now retraced by approximately 18%.
The downward trend extended to other major cryptocurrencies, including Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE
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