Bitcoin's recent price consolidation around the $60,000 mark has led to a decline in trader "buy the dip" sentiment.
This may indicate that Bitcoin is approaching a bottom. Historically, a decrease in "buy the dip" rhetoric on social media has often indicated that Bitcoin is near a bottom.
Despite the uncertainty, key support levels on the Bitcoin chart have not yet been broken and the fundamentals remain unchanged.
If Bitcoin continues to stay above $60,000, it may signal a bottom. Other factors, such as Bitcoin's risk signal, which has recently seen lower highs, also indicate that Bitcoin may be approaching a bottom.
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