$90K Bitcoin price is a ‘close your eyes and bid’ opportunity: Analyst

Bitcoin’s current correction is the largest of the bull market, but data indicate that the price is approaching prime capitulation territory.

Bitcoin’s (BTC) drawdown on Monday pushed the asset into a 26.7% loss, narrowly overtaking the 26.5% slide seen in April, and marking the steepest correction of the current bull market. The move red-lined multiple market structure indicators, suggesting the current correction could be a final leverage washout phase.

Key takeaways:

Bitcoin’s 26.7% correction is now the largest of the cycle.

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