Why Bitcoin could hit $60,000 before a rally to $72,000

jump to $67,740 does not mean that the price would no longer nosedive. In fact, there is a chance that BTC could drop to $60,000.

On the downside, there was a major level at $60,160. As such, resistance between $67,000 and $68,000 could force BTC to drop to $60,000 which could later act as support.However, the most concentrated area of liquidity was $72,000, meaning that the next uptrend could push Bitcoin to this point. Establishing this bias was the Realized Price.In addition, we assessed the SOPR Ratio. SOPR stands for Spent Output Profit Ratio. By definition, SOPR measures the profit ratio of the entire market.

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