Bitcoin price: was $67.000 the local top?

The Bitcoin price is currently moving around $64.500, up 0.9% in the past 24 hours. Yet the mood among traders is anything but euphoric. The big question is whether the recent peak of $67.000 marks the local top and whether there is a significant dip on the horizon.

Bitcoin is available at OKX and Bybit.

Was $67.000 the local top?

Analyst @cryptokans poses on X the question that occupies many traders: was $67.260 the temporary peak, and is Bitcoin now revisiting the lower levels? On the daily chart it is clearly visible that after the breakout towards $67.000 the price falls back to the green support zone around $64.000 to $65.000.

The chart shows a clear resistance zone around $67.263, while the bottom of the previous correction around $60.500 acts as an important support level. As long as Bitcoin remains below $67.000, bears keep open the possibility of further downward movement.

Hope for a dip to the low $50.000

The analyst personally indicates that he hopes for a drop to the low $50.000, because according to him that could be the last chance to ever buy Bitcoin at those price levels. He assumes that such levels will historically not return. Bears go one step further and see the price possibly falling even lower than $50.000.

Meanwhile, the broader market context remains relevant. For instance, Strategy now holds 843,775 Bitcoin, indicating that large parties still have confidence in the long-term value of the network. Whether that is enough to prevent a new dip to $50.000 remains the question for now.