Benzinga – Crypto analyst Justin Bennett has cautioned that Bitcoin (CRYPTO: BTC) could potentially plummet to significantly lower levels.
What Happened: On Thursday, Bennett, who boasts a following of over 110,800 on social media platform X, formerly Twitter, said that Bitcoin could see a decline of over 18%.
He stated, “Bitcoin is still range-bound, but the recent breakdown of the October 2023 trendline, combined with the February 26th and 27th imbalances, leads me to believe $ 52,000-$54,000 could be next,” adding, “A lot of liquidity is sitting below that 56,500 low, and markets seek liquidity.”
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His analysis suggests that Bitcoin could drop to the $60,751 level, bounce…
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