TechFlow news, Joel Kruger, Market Strategist at LMAX Group, said investor behavior suggests bitcoin's weakness could persist for some time. Large investors have not stepped in to buy the dip at current levels, indicating that bitcoin may continue to decline or consolidate.
A key technical level is $59,000. If bitcoin holds above this level, it could resume its uptrend, potentially reaching new highs and targeting $100,000. However, if the price falls below $59,000, it could trigger a sharper correction toward the $45,000 to $50,000 range, delaying near-term bullish prospects.
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