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Bitcoin (BTC) price could retest $66,000 if this “Adam and Eve” pattern is validated
Godfrey Benjamin
Bold Bitcoin (BTC) Price Projection Suggested by ‘Adam and Eve’ Formation
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Bitcoin (BTC) price is now one of the most speculative topics in the broader digital currency ecosystem. After falling as low as $58,554.25 last week, there are now reasons to be optimistic about a major bullish rebound. Second According to the insights of renowned market analyst Ali Martinez, Bitcoin may be on its way to retest the $66,000 price in the near term.
Bitcoin Bullish Call
Martinez revealed that Bitcoin has formed a pattern called “Adam and Eve.” Considering its bullish nature, this pattern can push Bitcoin up more than 6% from its latest level. If this happens, the $66,000 resistance level is soon feasible.
It is worth noting that Bitcoin has continued to capitulate in recent days and the last time the coin traded above the $66,000 price level was on June 17. Reclaiming this level may seem easy, but it is worth noting that Bitcoin remains in a difficult situation, according to its fundamentals.
The inflow of funds into Bitcoin spot ETF products has been two-way, with investors withdraw even at a faster pace than they are injecting liquidity. This instability in net flows has pushed non-ETF investors to stay on the conservative side.
At the time of writing, the price of Bitcoin is trading at $61,299.01, up marginally 0.91% in 24 hours.
Attention Shifts From Bitcoin
The social heat map surrounding Bitcoin is also a major factor in its declining price action. Over the past month, attention has shifted to major altcoins, including Ethereum (ETH) and Solana (SOL).
While Ethereum has caught up approval for a spot ETF After the May offering, Solana has seen its first two ETFs applications in Canada and the United States arrive within weeks of each other. While Bitcoin has sparked a revolution in the cryptocurrency space, many other altcoins are well on their way to completing it.
About the author
Goffredo Beniamino
Godfrey Benjamin is an experienced cryptocurrency journalist whose main goal is to inform everyone around him about the prospects of Web 3.0. His love for cryptocurrencies was born when, as a former banker, he discovered the clear advantages of decentralized money compared to traditional payments. Thanks to his extensive experience covering various aspects of Web3, Godfrey’s articles have been published in Blockchain.news, Cryptonews, and Coingape, among others.