Over the past 24 hours, the cryptocurrency market has witnessed Bitcoin consolidating its position in the digital financial space. Amidst a wider cryptocurrency selloff, Bitcoin offered yet another example of its infamous volatility, plunging sharply toward the $40,000 region. The leading cryptocurrency saw an 8% decline to $41,900 before reversing part of the losses and opening Monday’s trading 5% down at $42,090. Related Reading: Ethereum Rises: ETH Remains Steady At Over $2,300 Amid Bull Market Expectations Bitcoin Momentum Could Lose Steam CoinGecko’s price updates show that Bitcoin has only shown slight variations over this period, indicating that it is in an equilibrium phase after its recent price spikes. The subtle fluctuations in the price of Bitcoin indicate not just a break but also a chance for market players to evaluate the situation as it stands. The well-known cryptocurrency trader Josh Olszewicz, who goes by the handle CarpeNoctom on X, completed an empirical study that suggests there is a considerable chance that Bitcoin (BTC) could collapse and possibly drop below the $38,000 mark. $BTC bear case = 35.7k (daily Kijun) SL on longs prob ..
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