Bitcoin Maintains $70K Support This Weekend: Is $49K Bottom Call Flawed?

Bitcoin stands firm above $70,000 this weekend, raising questions about the accuracy of the $49,000 bottom prediction amidst ongoing market fluctuations.

This weekend, Bitcoin is demonstrating resilience by maintaining its position above $70,000. Following a modest rally prompted by Friday's CPI report, the cryptocurrency is consistently hovering around the $70,300 mark, with buy orders persisting above $65,000. This aspect is notably significant, overshadowing any stagnation in price movement.

Last Sunday, I identified the $71,500 level as a critical threshold for the market—a pivotal point that will determine if the current uptick transitions into a sustainable recovery. As it stands, the ongoing price action continues to spark discussions regarding the accuracy of my previous prediction of a bottom at $49,000.