A 50% drop from recent highs has pushed the asset into a zone historically labeled as a dead end, sparking a debate among crypto analysts. Bitcoin has fallen below the lowest band of the long-running Bitcoin Rainbow Chart for only the second time, dropping into the original model’s “Bitcoin Is Dead” zone around $62,500. Analysts are split on whether the breach signals that bitcoin is deeply undervalued or that the Rainbow Chart itself is outdated as ETFs, institutional investors and macro force…
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