Bitcoin recovers $64,000 price after 42-day Bitcoin correction, absorbing more than $3 billion in selling pressure

BTC has regained $64,000, according to Coinness Market Monitor. On the Binance USDT market, BTC is trading at $64,102.48. "Bitcoin has completed a 25.6% correction that lasted 42 days," an anonymous crypto trader, Rekt Capital, told X. "It's been a long 42-day correction. "Industry experts believe the worst of the correction is over," CryptoBriefing reports. They cite the redemption of Mt. Gox and the completion of the German government's liquidation as key factors in Bitcoin's recovery. They predict that Bitcoin could reach new all-time highs in 2024, especially before the end of the summer."

"Bitcoin has calmly absorbed more than $3 billion in selling pressure in this bounce," James Check (Checkmate), principal analyst at on-chain analytics firm Glassnode, wrote on social media. "We are living in a time of uncertainty and political issues dominating the markets. Since the Trump bashing last weekend, BTC has regained the $63,000 level and absorbed over $3 billion in selling pressure. As Vladimir Lenin once said, there are decades when nothing happens, and then