Analyst: BTC could bottom out near $60K

A long-term cycle analysis suggests that Bitcoin could be nearing a bottom around the $60,000 level. Cryptocurrency analyst AO (@AO_btc_analyst) explained on X that BTC rallies have historically followed a golden cross in the Stochastic RSI of the U.S. 10-year Treasury yield (US10Y) and the Chinese 10-year Treasury yield (CN10Y). The analyst noted this pattern repeated three times in 2013, 2017, and 2021, and that the same golden cross formation is currently in place.