Bitcoin remains in a bear market despite a short-term bounce to $67,000 as several onchain metrics and pricing models suggest that the bottom may be at $40,000.
Bitcoin (BTC) buyers made a tepid comeback on Monday, pushing BTC price to its intraday high of $67,860. Analysts said that Bitcoin remains in a bear market, with several metrics pointing to a potential bottom below $50,000.
Key takeaways:
Bitcoin price turns $70,000 into resistance, clearing the path for a deeper correction.
