Bitcoin (BTC) experienced a recent price retreat, hovering on the cusp of the $36,000 threshold before executing a swift reversal to $34,250. After a remarkable ascent of nearly 30% in the past month, it is not surprising that the price is taking a breather as traders secure profits, while market participants assess the sustainability of the factors fueling the rally.
Intriguingly, despite the day’s price gyrations, featuring a 4.67% downturn, several analysts continue to harbor optimistic sentiments concerning Bitcoin’s future. Furthermore, there is an anticipation of a potential “gamma squeeze” should the BTC price manage to break through the $36,300 threshold. Michael Saylor, a prominent advocate for Bitcoin, remains unwavering in his belief that “You can never have too much Bitcoin.”
