Been digging into the latest analyst takes on $BTC and the picture is pretty nuanced right now. They're eyeing a possible positive reaction around $62K, but most are calling any bounce from there a classic relief move rather than the start of a real recovery.
The real test comes if it slips below $60K. That's when you could see genuine capitulation kick in across the market.
Hold steady above $62K though, and the miner hashrate signals begin to line up like they do at cycle bottoms. One key level splitting two very different outcomes.
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