#BTC☀ #pepe⚡
Is a short-term BTC rebound imminent? Can PEPE break through resistance and hit a new all-time high?
Bitcoin (BTC) has tried to break through the $65,000 mark twice this month, but both times it encountered a sharp pullback. The latest drop has brought BTC to $58,000, the lowest point in more than two weeks, raising concerns about whether it will continue to adjust.
BTC is now trading at $62,739, and if this downward pattern continues, BTC may fall even more.
However, things are not so pessimistic. The sharp pullback may have washed out those uncommitted investors, which may attract stronger buyers to enter the market. This "cleaning" usually brings new buying and lays the foundation for a rebound.
While BTC is struggling, meme coins such as PEPE are recovering. It has risen by more than 5% in a week. In times of market uncertainty, traders often like to look for such high-risk, high-reward opportunities.
However, PEPE's performance still depends on BTC's face.
Now it looks like BTC has a chance to rebound in the short term and regain control of the market. This could force those who previously shorted BTC to buy back, pushing up the price.
However, this does not guarantee that BTC will rise to $70,000. Long-term holders have been quiet in the past week, while sellers who have held BTC for less than 155 days have begun to sell.
Of course, if $62,000 can hold, bulls have the upper hand, and long-term holders remain stable, it may be a good time to buy and a rebound may begin.
If BTC can stabilize and begin to rebound, traders' attention may return to BTC and other large-cap assets, and PEPE may adjust in the short term. But if BTC continues to fall, PEPE may benefit from another meme coin cycle and rise to new highs.
In the past three days, PEPE has risen above $0.000010, but it has been difficult to hold. 1.8 trillion PEPE tokens have poured into exchanges, the highest point in three months, making it difficult for bulls to maintain momentum.
If this is the case, PEPE may soon break through the $0.000010 resistance level.
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