Bitcoin starts the third quarter of 2024 with a pop as bulls aim to regain lost ground on the way to all-time highs.
Building on 4% gains over the 24 hours to the time of writing, Bitcoin certainly has its work cut out in order to continue its bull market.
Months of consolidation have now resulted in two trips below the $60,000 mark, both of which are now looking increasingly like bear traps. Can the bulls really win out?
From now on, traders will be looking not just at $60,000, but at other important bull market trendlines to gain more confidence in the BTC price rebound.
Macroeconomic data will add to the overall volatility odds this week, with plenty of United States unemployment data on the cards in addition to inflation cues from senior Federal Reserve officials.
Attention is also on Bitcoin miners. After several weeks in a hashrate “capitulation,” will the current low hash price keep the industry from bouncing back?