Summary
- Bitcoin dropped below $59,000, hitting a low of $58,601.70 after peaking at $61,790
- This marks the sixth significant correction for Bitcoin in this cycle, with a rapid decline lasting 17 days
- Technical indicators show potential for price recovery, with signals like the MVRV Ratio dropping triggering significant price jumps in the past
- Analysts anticipate a bullish rebound ahead, with buy signals flashing on Bitcoin’s daily chart
