- "Bitcoin (BTC) could end its bull market if it falls below the $70,000 level," according to reports.
- "Renowned cryptocurrency analyst Benjamin Cowen stated that if Bitcoin enters the $60,000 range, the bull market could end."
- "He added that if Bitcoin maintains the $70,000 level, the bullish trend is likely to continue."
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
An analysis suggests that Bitcoin (BTC) could end its bull market if it falls below the $70,000 level.
According to cryptocurrency media The Daily HODL on the 15th, renowned cryptocurrency analyst Benjamin Cowen stated, "Bitcoin could show a similar pattern to 2017," adding that "if Bitcoin drops below the 2024 low (around $71,000) and enters the $60,000 range, the bull market could end." He analyzed that Bitcoin is likely to test its low point again in this cycle.
The analyst added, "If Bitcoin maintains the $70,000 level, the bullish trend is likely to continue, but if it fails, we could see a pattern of lower highs throughout the year."
As of 4:30 PM today, BTC is trading at $83,872, up 2.18% from the previous day, based on the Binance USDT market.
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