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Bitcoin's Recovery and Potential Breakout Hinges on $30,000 Mark, Say Analysts

June 20 (Cointime) - Trader Jordan Lindsey believes that Bitcoin's recovery and potential breakout depend on surpassing the $30,000 mark. Other analysts have noted the resilience of Bitcoin, even after a dip below $25,000, and the risk-reward ratio remaining appealing with a low of $25,000 and upward potential above $30,000.

Glassnode's "Week Onchain Newsletter" suggests that "HODLers" continue to accumulate Bitcoin, potentially building up energy for significant movement upon breaching the $30,000 threshold. Various factors, including high leverage on the futures market and an increase in network activity, point to the $30K mark as the focus for Bitcoin's next significant move.

Bitcoin Bitcoin $98,612.55
+1.58%
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