Bitcoin – Here’s why $60K remains the ‘key structural level’ for traders
Bitcoin recently fell below its realized price of $79.1k, sparking market-wide concern. Jim Cramer claimed on CNBC that the U.S. government is buying Bitcoin at $60k, a level that has proven structurally important. Although his statement lacks on-chain evidence and was met with skepticism, it drew attention to $60k as a key psychological and order-block zone. This level previously initiated a major rally and recently triggered a bounce. Market sentiment showed slight improvement, with a small rise in rate-cut probability, though overall expectations remain low. Technical indicators are mixed: RSI suggests lingering bearish momentum, but the Mayer Multiple implies Bitcoin is undervalued, historically a signal for potential rebounds. The $60k level remains critical for trader focus and possible trend reversal.
ambcrypto02/08 08:41