Bitcoin prices could potentially drop to around $47,000 in this market correction, according to technical analyst Willy Woo.
He said Bitcoin miners were still in capitulation before adding, “Until the hash rate climbs, as seen in a ribbon recovery, the local environment is bearish. Miners are selling off, which happens every time after the halving.”Bitcoin ETFs “Price wants to hunt higher to take out the shorts all the way to $77k, but also there’s lots of fuel lower, $47k is the next stop in the other direction.”
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