CryptoQuant Warns Bitcoin May Dip to $60,000 Amid Ongoing Decline

CryptoQuant reports Bitcoin's price has slipped beneath its 365-day moving average, raising concerns of a potential drop to $60,000.

According to CryptoQuant, the Bitcoin market is facing significant pressure as its price has recently dipped below the crucial 365-day moving average for the first time since March 2022. This trend raises alarms about the potential for Bitcoin’s value to fall to as low as $60,000, indicating a worsening downturn that extends beyond the challenges experienced during the 2022 bear market.