Odaily Planet Daily News Shaurya Malwa, co-head of CoinDesk's token and data team, wrote that the Bitcoin price recovery has fallen into a double-top bearish pattern at $87,000, increasing the risk of another decline. If the price decisively falls below the support level between the two peaks (called the neckline), it may cause the price to fall to $75,000 or lower in the short term, but it will remain in an upward range in the long term.
Analysts believe that traders have responded positively to the Federal Reserve's dovish stance on inflation and the cooling of concerns about upcoming U.S. tariffs, supporting Bitcoin's gains over the past week. However, the lack of correlation between altcoins and Bitcoin's recent movements suggests that the current price trend may lack broad market support, increasing the possibility of a "false breakout" rebound. (CoinDesk)