Why Bitcoin Price May Fall Below $60000? 📉
Bitcoin initially recovered to $70,000 following a FOMO-driven rally, boosted by factors like Fed rate cuts, Trump re-election odds, and technical breakouts. However, this positive sentiment among bulls is fading.
The Bitcoin price dropped to a 24-hour low of $65,521, partly due to recent geopolitical tensions involving Israel, adding to the market's uncertainties.
This downward pressure could potentially push Bitcoin's price below $60,000 as these challenges persist, overshadowing the earlier optimism of October's 'Uptober' rally.
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