The BTC price is back below $65k, and the Ethereum sell-off continues, dropping ETH to $2,630.
The BTC price forms a bearish engulfing candle and the previous bear cycles suggest a possible downfall.
BTC price may retest the 50% Fibonacci level at $63,085, but a breakout rally above the channel can lead to a surge targeting $68,943 and $73,679 levels.
59% of Polymarket participants believe Bitcoin will reach a new all-time high in 2024.