Bitcoin's price briefly dipped below $60,000 ahead of the much-anticipated Bitcoin halving, but traders remain optimistic about its long-term outlook. Despite being in the pre-halving "danger zone" for a month, Bitcoin reclaimed a key moving average indicator that has historically signaled the start of bull runs. The recent price correction has reset key technical indicators, suggesting Bitcoin is no longer overbought. The current drawdown is viewed as a healthy correction, with the outlook for the next 18 months remaining bullish. Continued inflows from the 10 spot Bitcoin ETFs in the US and the recent approval of spot Bitcoin ETFs in Hong Kong are also expected to drive a post-halving rally.