##BinanceLaunchpool #bitcoinhalving #BullorBear #writeDespite the recent price increase, market sentiment around BTC has shifted towards bearishness. If a price correction occurs, BTC could potentially drop sharply to $63,000.
Bitcoin (BTC) price is once again surging, surpassing the $70k threshold. However, in the short term there may be a downward adjustment as the price of this cryptocurrency is fluctuating in a parallel price channel.
Letâs analyze the situation of BTC in more detail to forecast developments this week.
Bitcoin struggling at $71K
Bitcoin is currently aiming for a price of $71k. According to CoinMarketCap, over the past week, BTC has recorded an impressive growth of more than 6%, and in the past 24 hours alone, the price has increased by 2.4%.
This bullish momentum has helped Bitcoin remain stable above the key $70k mark. At the moment, Bitcoin is trading at $70,768.46 with a total market capitalization of over $1.39 trillion. However, investors need to be cautious and not rush to rejoice because there is a possibility that the price will soon adjust.
