Bitcoin

<ul><li>Bitcoin&#39;s drop below $65.8K signals potential 8%-12% correction, mirroring 2020&#39;s support search pattern.</li><li>Ethereum ETF S-1 documentation release may trigger a Bitcoin price reversal, crucial for market sentiment.</li><li>Decreased trading volumes and mixed derivatives data indicate cautious sentiment, with a slight bearish short-term trend.</li></ul><a href="https://cryptotale.org/bitcoin-slips-below-65k-a-detailed-market-overview-amidst-crypto-decline/" rel="noopener noreferrer nofollow">Bitcoin </a>has recently dipped below the critical support level of $65,800, now trading at <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">$64,377.82</a>. As highlighted by <a href="https://x.com/cryptoquant_com/status/1804179918722388058" rel="noopener noreferrer nofollow">CryptoQuant</a>, an On-chain analytic firm, this decline has sparked concerns among investors, as falling below this threshold often signals a potential correction of 8% to 12%, bringing Bitcoin closer to the $60,000 mark.This movement is reminiscent of patterns observed in 2020, where significant price compressions were followed by searches for support and subsequent reversals.<img src="https://lh7-us.googleusercontent.com/docsz/AD_4nXd_YcEaSl8lstkOd29DH47YRBODo_ehdpKtSwdfbiXk59RYYHVrA-FLhqgMApYly2KR6xfJ4m64eljKWvoiyTN1W7b553yFuINuqmw1I2k_1_NufxPFHKqXF71w-Jp-rzHiP712cVUfiyMwB9CyPaklwaG6?key&#61;2FQNY_86N6orGt__XaePqQ" />According to<a href="https://x.com/CryptoMichNL/status/1804212692585992346" rel="noopener noreferrer nofollow"> Michaël van de Poppe</a>, an analyst, this period of compression coincides with the anticipated release of the amended S-1 documentation for the Ethereum ETF. Such a development could potentially catalyze the much-anticipated reversal, marking a significant event for the cryptocurrency market.<a href="https://cryptotale.org/bitcoin-dips-below-65800-is-a-further-correction-to-60k-on-the-horizon/" rel="noopener noreferrer nofollow">Read more on CryptoTale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Bitcoin Dips Below $65,800: Is a Further Correction to $60K on the Horizon?

CryptoTale

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