Bitcoin at Critical Technical Level, Could Drop to $40,000, Analysts Warn

BTC-0.47%
According to CNBC, Miller Tabak strategist Matt Maley and 22V Research technical strategist John Roque warned on June 29 that Bitcoin is at a critical technical indicator level. Maley noted that if Bitcoin declines further from its current level of approximately $60,000, it could intensify negative investor sentiment. Roque stated that Bitcoin is retesting the $60,000 initial downside target; a break below this level could push the asset toward $40,000, representing a 30% decline from current prices.
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