Multiple charts and historical data suggest Bitcoin’s recovery from its weekend crash below $75,000 could take several months, rather than producing a quick rebound.
The rise and fall of the manufacturing index from mid-2020 through 2023 broadly tracked movements in Bitcoin and the wider crypto market over the same period.
Bitcoin flashed a major discount signal after capital outflows increased following BTC’s abrupt drop below $75,000. Historical data now points to a potential 10% rebound rally in the short-term.