Bitcoin News Today: Could $60K Be the Start of Something Huge For BTC Price?

The post Bitcoin News Today: Could $60K Be the Start of Something Huge For BTC Price? appeared first on Coinpedia Fintech News

Bitcoin’s (BTC) price closed last week in an indecisive spinning top candlestick after being rejected several times for around $60k. However, the flagship coin has continued to defend the support level around $58k, which could be a basis for the long-term bullish sentiment.

Furthermore, since early March this year, Bitcoin’s price has formed a potential bullish flag. Despite the notable Bitcoin accumulation by institutional investors since the approval of IS-based spot BTC ETFs, traders have been gripped by the fear of further capitulation. 

Bitcoin’s fear and greed index has remained below 30 percent in recent times, suggesting an extreme fear of further crypto capitulation.

Bitcoin's rally was rejected at the monthly correction 50% level. Many altcoins are selling off again, too. Meanwhile, the stock markets have continued to surge, and gold is at a new ATH! We have seen this all before.