_Bitcoin Rebounds to $62K, Forming Bullish Pattern_

Bitcoin has reclaimed $62,000, forming a "massive bull hammer" on the weekly price chart, signaling a potential bottom. The rebound comes after "Crypto Black Monday" saw Bitcoin drop below $50,000.

_Key Points:_

- Bitcoin briefly touched $62,510 before pulling back to $61,068.

- The asset is up 12.46% from Aug. 7.

- Traders point to a bullish pattern, suggesting a potential floor.

- Some believe the recent price dip was a bear trap.

- Sentiment among futures traders has flipped, with 52.48% in long positions.

_Analyst Insights:_

- Matthew Hyland: "This is currently forming into a massive bull hammer on the weekly time frame... highly probable that the bottom is now in for Bitcoin."

- Byzantine General: "What an insane weekly. Probably the most epic bear trap I've ever seen."

- Markus Thielen: "To ideally time the next bull market entry, we aim for Bitcoin prices to fall into the low 40,000s."

- Timothy Peterson: "$40k and $80k equally likely in the next 60 days."

Note: I've rephrased the text to provide a clear and concise summary of the article while avoiding any potential copyright issues.#bitcoin #MtGoxJulyRepayments #BinanceHODLerBANANA #XRPVictory #XRPVictory

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