A crypto analyst with a growing following has issued a warning that Bitcoin may experience a downturn this month. Rekt Capital, who has over 349,000 followers, notes that August has historically been a bearish month for Bitcoin prior to its halving. The analyst also highlights a potential bearish divergence on the weekly chart's relative strength index (RSI), indicating a decline in momentum for the cryptocurrency. If the bearish signal plays out, Bitcoin could drop to as low as $24,000, although the weekly bearish divergence does not necessarily guarantee a price drop.
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