With two days remaining until the Bitcoin halving 'danger zone,' the price of BTC is retesting $60K.

According to data from Cointelegraph Markets Pro and TradingView, BTC hit intraday lows of $60,190 on Bitstamp, as a sudden drop disrupted attempts to maintain levels around $63,000, with various explanations for the downturn. Popular trader Skew highlighted the significance of the $60.8K - $61K range for bullish momentum, while trading resource Material Indicators suggested institutional involvement, speculating that certain entities may want to suppress a weekend breakout with the BTC ETF market closed. Rekt Capital, known for analyzing BTC price behavior post-halving, signaled the conclusion of the "danger zone" marked by recent weakness, noting BTC's tendency to decline in the weeks following a halving event, with recent price action aligning with predictions.

BTC/USD has tended to drop in the weeks following a halving event, and this “danger zone” is now coming to an end.

At the end of April, Rekt Capital predicted a major bout of downside for Bitcoin within a two-week period — something which ultimately came true in the form of a trip to two-month lows $56,500.

Our telegram channel for Latest Updates - https://t.me/cryptotelegraphs_updates

Join Telegram Channel For Daily New update: https://t.me/cryptotelegraphs_updates