Analysts pinpoint bull and bear scenarios as Bitcoin price dips below

Cooler heads are calling for a collective deep breath and a step back to see the long-term outlook for the future of (BTC) price and the wider crypto market, but today’s drop back under $56,000 is raising eyebrows among traders.

Data from Cointelegraph Markets Pro and TradingView shows that after starting the week near $60,000, several days of bears hammering the price of Bitcoin resulted in a revisit to $55,600.