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Bitcoin staged a recovery after sliding to a 21-month low around $57,000, with bulls pushing to retake the $60,000 level — a price the market had previously treated as a floor.
On-chain and derivatives data, however, are casting doubt on whether that threshold can convert from resistance back into support, muddying the bottom call.
What the Drop Means in Context A 21-month low is not a routine pullback.
It marks a reset to price territory last seen before the rally cycle that carried $BTC to its recent highs, erasing more than a year and a half of gains for buyers who entered in that window.
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