Bitcoin could continue its decline below the $60,000 psychological mark after the debut of Hong Kong ETFs proved to be a sell-the-news event.) price fell below the $61,000 mark after the first spot Bitcoin exchange-traded funds went live in Hong Kong. Is Bitcoin at risk of going below $60,000 in the next few days?Bitcoin fell to a weekly low of $60,543 on April 30, a day after the launch of the first batch of. The world’s first cryptocurrency is down over 7.
“Market participants often anticipate these events, leading to a price surge prior to the actual news, and subsequently take profits once the news is public. This pattern suggests a tactical response from short-term traders to capitalize on the hype, followed by a correction as the news gets absorbed.”
While Bitcoin may indeed fall below the $60,000 psychological mark, it could present a good buying opportunity for long-term holders, in line with corrections from previous post-halving rallies, according to Lebbar, the co-founder Exponential.fi:
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