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Bitcoin price (BTC) could retest the $66,000 mark if this “Adam and Eve” pattern is confirmed

Bitcoin price (BTC) could retest the ,000 mark if this “Adam and Eve” pattern is confirmed
Bitcoin price (BTC) could retest the ,000 mark if this “Adam and Eve” pattern is confirmed

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The price of Bitcoin (BTC) is currently one of the most speculative topics in the broader digital currency ecosystem. After falling as low as $58,554.25 last week, there is now reason to be optimistic about a significant recovery. According to insights from leading market analyst Ali Martinez, Bitcoin could be on track to retest the $66,000 price mark in the short term.

Bullish Bitcoin Call

Martinez revealed that Bitcoin has formed a pattern called “Adam and Eve.” Given its bullish nature, this pattern can push Bitcoin up by more than 6% from its last level. If this happens, the resistance level of $66,000 will soon be reachable.

It is worth noting that Bitcoin has continued to capitulate over the past few days, and the last time the coin traded above the $66,000 price level was on June 17. Reclaiming this level seems easy, but it is worth noting that Bitcoin remains in a bind due to its underlying fundamentals.

The inflow of funds into spot Bitcoin ETF products has been bidirectional, with investors withdrawing even faster than they deposited money. This instability in net inflows has led non-ETF investors to continue to stay on the conservative track.

At the time of writing, Bitcoin price is trading at $61,299.01, up marginally by 0.91% in 24 hours.

Focus shifts from Bitcoin

The social heatmap surrounding Bitcoin is also a major factor in the price decline. Over the past month, attention has shifted to the top altcoins, including Ethereum (ETH) and Solana (SOL).

While Ethereum received approval for a spot ETF offering in May, Solana’s first two ETF applications were filed in Canada and the US within weeks. While Bitcoin sparked a revolution in the crypto space, many more altcoins are well on their way to completing it.

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Godfrey Benjamin

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