“Is Bitcoin on the edge of a major drop?”
Bitcoin has shown impressive strength in recent weeks, but signs of a potential correction are hard to ignore. On the technical side, $BTC is struggling to hold above the $62,000 support, and we’ve seen declining volume on recent upswings—often a sign that bullish momentum is weakening.
Macro factors also add pressure. With U.S. CPI data releasing soon and increasing talks of delayed rate cuts by the Fed, risk-on assets like BTC could face short-term volatility. Historically, Bitcoin tends to dip ahead of uncertain macro events.
On-chain data also hints at caution. According to Glassnode, short-term holder supply has hit a new high, which often precedes local tops. Additionally, exchange inflows have spiked slightly—usually a sign that traders are preparing to sell.
While the long-term outlook for BTC remains bullish—especially with institutional inflows and halving effects still playing out—traders should keep a close eye on key levels like $60,000 and $58,500. A clean break below those could trigger a stronger pullback.
This isn’t fear-mongering—it’s about risk management. As always, stay informed, zoom out when needed, and don’t let short-term noise shake long-term conviction.