**Bitcoin Price Dips Below Key Trendline, Eyes on Potential Correction**

Bitcoin (BTC) has slipped below a crucial growth trajectory line, sparking concerns of a potential dip below $55,000 before any rebound. Analysts from Econometrics suggest that if BTC recovers above this trendline, currently around $63,000, it could pave the way for new highs, possibly reaching six figures by year-end.

Crypto trader Crypto Bullet notes that a higher-than-expected Consumer Price Index (CPI) reading on Aug. 14 could trigger another correction, potentially testing the $53-55K range. However, decreasing miner reserves, now at 1.8 million BTC, indicate reduced sell-pressure, which might support a price recovery.

Popular analyst Rekt Capital emphasizes that Bitcoin needs to confirm $60,600 as support to aim for $65,000 and beyond. As always, investors should conduct their own research before making any trading decisions.