Bitcoin Market Moves Into A Lower-Leverage Environment – What This Means

In the past, this region was considered an ideal one to gain exposure with greater safety. The expert claims that the market has not yet gotten to that phase, but it will likely take a few more weeks or months before we reach that stage.

In order for the group to return to profit territory, the expert stated that BTC’s price must bounce back to the $64,000 mark. CW added that the brief uptrend of Bitcoin started as these investors slowly approached the profit zone. In the meantime, recovering the $64,000 level is the first condition for the rise to kick off.

At the time of writing, Bitcoin’s price was trading at $63,370, and was showing a nearly 1% rise within the past day. While prices are slowly turning bullish, BTC’s trading volume within the same time frame has dropped by over 5%.