Bitcoin recently took the crypto market by storm with a significant price drop. But don't worry, the crypto world is full of surprises and there is a chance of recovery! 🚀

According to technical analysis from TradingRage, Bitcoin has made lower highs and lows since dropping below $70K, indicating a bearish trend. However, the $57K support level managed to arrest further downside. If the price can climb back above the 200-day average, this dip could just be a bear trap and we can expect a rally higher.

On the other hand, on-chain analysis shows that even though the price of Bitcoin fell, many investors saw this as a buying opportunity and withdrew coins from exchanges. If this trend continues, the supply and demand equation could shift in favor of the bullish movement and the correction could end soon.

Come on, what do you think about this situation? Do you think this is a buying opportunity or vice versa? Come on, discuss it in the comments column! 😄#Bitcoin#CryptoNews