Bitcoin (BTC) Risks Dropping to $72,500, But That Could Be a Blessing in Disguise: Analyst

The primary cryptocurrency flexed its muscles last week and seemed poised to reclaim $85,000. However, the bears stepped in again, and the price eventually fell below $80,000. Popular analyst Ali Martinez suggested the pullback could intensify in the short term, but that could actually work in investors’ favor. Here’s why. According to Martinez, Bitcoin appears to have broken below a rising parallel channel on the 4-hour chart. He believes that as long as $82,000 holds as a resistance, the correction could deepen toward a two-month low of $72,500.