A crypto analyst, Rekt Capital, believes Bitcoin (BTC) has escaped the risk of a market correction.
Post-Halving Danger Zone Over
Rekt Capital explained that Bitcoin has exited the “danger zone,” a three-week period after a halving event where a price dip below the current range low is possible. He believes the correction bottom has likely been reached.
Reaccumulation Phase
According to the analyst, Bitcoin is now in a reaccumulation phase, where it typically trades sideways. He expects the price to fluctuate between $60,000 and $70,000 for the next several weeks, potentially up to 150 days.
Current Market Situation
At the time of writing, Bitcoin is trading at $65,364, down slightly from the previous day.
