Bitcoin traders are preparing for a potential dip in price after days of consecutive gains that have brought the cryptocurrency back to the $30,000 level for the first time since April. Analysts predict that Bitcoin could retrace by around $2,000, with some traders “buying the dip” at $28,000 in anticipation of further long positions.
On-chain analytics firm Glassnode argues that this recent volatility is not unusual and follows an extended period of sideways trading, which typically precedes large, volatile moves in either direction. Some traders are eyeing higher targets, with one predicting a jump to $40,000, while others consider longer-term levels months beyond the current all-time high of $69,000.
Readers are advised that this article does not contain investment advice and recommends conducting personal research before making any trading decisions.
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Bitcoin Traders Anticipate Dip to $28K Despite Recent 20% Gains