Bitcoin’s Potential Bottom
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| Bitcoin fell over 3% on Sunday as some traders and analysts believe the top cryptocurrency may have reached a key price level. |
| Details: According to Cointelegraph on Sunday, a recent Bitcoin metric suggests a “local bottom” for traders when the price is below $60,000. This means that Bitcoin’s price action has shown signs of a potential bottom. |
| Definition: A local bottom refers to the lowest price for an investment within a certain period. |
| Price: Bitcoin is up about 2% in the last 30 days, hovering between $50,000 and $70,000 in value. |
| Final Thoughts: Bitcoin is up recently despite outflows from spot Bitcoin ETFs (exchange-traded funds). |
