Bitcoin’s price has rebounded to approximately $69,000 after dipping to $60,000, marking a 3.69% increase in 24 hours, yet technical indicators show a strong bearish trend persists. Traders on Myriad are forecasting a 55% chance that Bitcoin will dip to $55,000 before potentially recovering, indicating continuing negative sentiment in the market. This bearish outlook is underscored by the Crypto Fear and Greed Index, which is at 8, a level indicative of extreme fear, reflecting the general cautiousness engendered by current economic uncertainties, including anticipated inflation reports that could influence asset volatility. These factors maintain pressure on Bitcoin, despite the short-term price bounce.
Bitcoin climbs to $69K amid bearish market signals
