Bitcoin (BTC) Price Drops Below 200-Day Average, Bullish Trend Line in Focus

“We believe Jerome Powell’s bullish rhetoric and continued selling pressure are likely to push BTC down to $52,000,” Valentin Fournier, digital asset analyst at advisory firm brn, said in an email. “However, we would view this as a buying opportunity, as improved crypto regulation and easing inflation in the US are not yet fully priced in and are likely to generate strong momentum as investors shift their focus to a longer-term perspective.”