BTC could bottom between $84K and $86K, says analyst

Vetle Lunde, head of research at K33, stated that Bitcoin is in its steepest 43-day decline since 2017. According to CoinDesk, Lunde noted that BTC has fallen below the average purchase price of U.S. spot Bitcoin ETFs. He suggested that if the current downturn mirrors the two most severe declines of the past two years, the price could find a bottom between $84,000 and $86,000. Lunde added that if this support level is breached, BTC could retest its April low and Strategy's average purchase price of $74,433.