Bitcoin

Veteran trader Roman Trading forecasts that Bitcoin might drop to $60,000 due to bearish pressure. This comes after the US government moved $2 billion in Bitcoin, alongside Trump’s pro-crypto speech.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/8c5d701237cb4d0d8e05b1be88ec4134.png" />Bitcoin, currently at $66,568, has fallen by 3.83% in the last 24 hours and 0.25% over the past week. This drop could be linked to the government’s <a href="https://cryptosheadlines.com/massive-9-billion-bitcoin-transfer-puts-mt-gox-back-in-headlines/" rel="noopener noreferrer nofollow">Bitcoin transfer</a>.<h3 id="bitcoin-shows-bearish-divergence-potential-for-double-top-reversal">Bitcoin Shows Bearish Divergence: Potential for Double-Top Reversal</h3>According to Roman Trading, Bitcoin’s 1-day chart indicates bearish divergence, suggesting a possible double-top reversal. This pattern occurs when Bitcoin reaches new highs, but momentum indicators like the RSI or MACD fail to confirm the trend, signaling a <a href="https://cryptosheadlines.com/understanding-solanas-796m-loss-potential-impact-on-sols-future/" rel="noopener noreferrer nofollow">potential loss</a> of upward momentum.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/920c27bbeec44237b9ded5c5f789c3db.png" /><img src="https://academy-public.coinmarketcap.com/optimized-uploads/abff487401264ca6bc5dd18fa55c2827.jpeg" />Analyst Tweet – Source: <a href="https://x.com/Roman_Trading/status/1818069385313141182" rel="noopener noreferrer nofollow">X</a>The presence of a double-top setup implies that Bitcoin might peak before undergoing a downward correction. Recent data shows Bitcoin dropping from $69,811 to $66,842, marking a $3,000 decline in just 24 hours, which could signal growing bearish sentiment.Roman Trading advises that Bitcoin may continue to fall if it cannot maintain the resistance level at $66,000. Key support levels to watch include $64,000 and potentially $60,000.<h3 id="impact-of-recent-u-s-government-actions-on-bitcoin-s-price">Impact of Recent U.S. Government Actions on Bitcoin’s Price</h3>The recent drop in Bitcoin’s price appears to be linked to significant actions by the U.S. government. On Monday, the <a href="https://cryptosheadlines.com/us-government-moves-300-million-worth-of-btc-from-coinbase/" rel="noopener noreferrer nofollow">government moved $2 billion worth</a> of seized Bitcoin, which had a substantial impact on the market. This transfer occurred just two days after <a href="https://cryptosheadlines.com/us-presidential-candidate-vivek-ramaswamy-to-accept-bitcoin-donations-for-campaign/" rel="noopener noreferrer nofollow">presidential candidate Donald Trump announced plans to acquire Bitcoin</a> (BTC).<img src="https://academy-public.coinmarketcap.com/optimized-uploads/47a38d2948514777a5b91cfc2946d2cf.png" />Source: <a href="https://x.com/ArkhamIntel/status/1817962145985724629" rel="noopener noreferrer nofollow">X</a>The transaction involved transferring 29,800 BTC to a new address, which had no prior transaction history. This address then acted as an intermediary, forwarding 19,800 BTC to another address, while 10,000 BTC, valued at around $670 million, was sent to a third address.<a href="https://cryptosheadlines.com/blackrock-warns-about-cryptocurrency-scams/" rel="noopener noreferrer nofollow">Also Read: BlackRock Warns About Cryptocurrency Scams</a>Despite these bearish indicators, veteran trader Roman Trading remains optimistic about <a href="https://cryptosheadlines.com/valkyrie-bitcoin-futures-etf-inspired-by-tradfi-memes/" rel="noopener noreferrer nofollow">Bitcoin’s future</a>. He suggests that excessive negative sentiment could create conditions conducive to a significant price rally, as overly pessimistic traders might set up the right environment for a substantial increase.Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.Join Cryptos Headlines <a href="https://linktr.ee/cryptosheadlines.com" rel="noopener noreferrer nofollow">Community</a>Follow Cryptos Headlines on <a href="https://news.google.com/publications/CAAqBwgKMLz3-wowvuzoAg" rel="noopener noreferrer nofollow">Google News</a>

Bitcoin Price Drop: Could $60K Be the New Target?

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