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Hopium take on Bitcoin:
It looks like BTC may have carved out a local bottom, and a relief rally could be next unless equities roll over hard.
Right now, Bitcoin is retesting the prior cycle’s all-time high from 2021. Historically, that level has acted as major support in bear markets.
Back in 2022, BTC revisited the 2017 ATH around $19,800, briefly flushed to $15,400, and that sweep marked the ultimate bottom.
We’re seeing a similar structure now. Price lost the 2021 high near $69,000, dipped toward the $60,000 area, and is attempting to stabilize.
If history rhymes, this zone could define the low and spark a bounce. But if traditional markets sell off aggressively, Bitcoin may still have room to move lower.