A widely followed crypto analyst is warning that Bitcoin (BTC) could pull back further before next month’s halving event when miners’ rewards are cut in half.
Pseudonymous crypto trader Rekt Capital tells his 433,000 followers on the social media platform X that Bitcoin has entered a “danger zone” when historically the crypto king has corrected between 20% and 40%.
“It’s been two days since Bitcoin officially entered the ‘danger zone’ (orange) where historical pre-halving retraces have begun. Historically, Bitcoin has performed pre-halving retraces 14-28 days before the halving. Currently, BTC is approximately 26 days away from the halving and has pulled back almost -18% in total since last week.
Whether the retrace bottom is in already or not is uncertain. But what’s clear is this: Bitcoin has just recently entered its ‘danger zone’ time window. Technically, there’s still time for additional…
