Bitcoin Price Analysis: Where is the Bottom as BTC Correction Accelerates?
Bitcoin has experienced a sharp decline, currently trading around $65K after breaking below key support levels, including the $70K area and the rising daily channel.
The adjusted SOPR indicates that coins are selling at a loss on average, indicating increased selling pressure and a potential local bottom.
The next significant demand areas are around $63K and $60K, with a recovery above $70K needed to reverse the current bearish sentiment.