CryptoQuant senior analyst Julio Moreno has reported the re-entry of Bitcoin Market Cycle Indicator into the light blue BEAR market area marked by X. Moreno highlights the concern that a move below the $56,000 mark could lead to a deeper correction. Currently, BTC is trading at $58,103.95, indicating a 4.47% drop according to CoinMarketCap. ```
Impact of a Potential Drop Below $56K on Bitcoin’s Bearish Territory
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