Back to $30K? This BTC price metric is calling Bitcoin’s mid-cycle top

Bitcoin can yet see a significant cooling-off, one popular analyst concludes, based on historical readings from the DMI.

Bitcoin (BTC) could dip 30% to flush out “overheated” conditions on one of its most reliable indicators.

In an analysis on X (formerly Twitter) on Jan. 1, popular commentator CryptoCon argued that a $30,000 BTC price was not yet a thing of the past.

Bitcoin may have approached $45,000 this week, but historical patterns call for a retracement to characterize the start of 2024.

Read more

Source: https://cointelegraph.com/news/back-to-30k-this-btc-price-metric-calling-bitcoin-mid-cycle-top