Technical charts show Bitcoin and altcoins on the verge of a bullish trend reversal, but Bitcoin’s resistance at $69,000 could cap the current upward momentum.
A shallower Bitcoin drawdown than previous cycles "indicates a maturing market with reduced volatility and stronger institutional confidence," said Nick Ruck, director of LVRG Research.
The Crypto Fear and Greed Index remains pinned in the "extreme fear" zone, but Bitcoin’s lengthy consolidation phase above the $60,000 support may be a positive sign.