Bitcoin's price took a hit recently, dropping 11% from $63,800 to $56,746 in just three days. Despite this, demand for Bitcoin derivatives and stablecoins in China remains high, hinting at the continuation of the 2024 bull market. Meanwhile, the S&P 500 index hit a new all-time high and gold is nearing its record high, driven by strong corporate earnings and anticipated interest rate cuts by the US Federal Reserve. Bitcoin derivatives metrics remain neutral, and the demand for stablecoins in China has increased, suggesting that Bitcoin's price could soon regain the $60,000 support level.