Bitcoin Analysts Warn of Impending Correction as Bulls Join Late

Analyst Benjamin Cowen suggests that Bitcoin may be due for a significant correction, as it has not retested the $30,000 level as support during its climb above $60,000, leaving the potential for a 50% drop. He believes that the current rally looks unsustainable, with Bitcoin moving higher without establishing a solid support base, which could lead to a severe bear market correction. At the time of writing, Bitcoin is trading at $64,707, marking a nearly 3% increase in the last 24 hours.