Trader: Bitcoin Needs to Surpass $57K Liquidity for Post-Halving Rally Amid Market Uncertainty

Bitcoin's price trajectory faces scrutiny as it struggles to regain momentum following a 15% decline from its all-time highs, with concerns about further dips looming. Despite the current challenges, trader and commentator Mikybull Crypto remains optimistic about Bitcoin's long-term prospects, describing the ongoing correction as typical within the context of a bull market cycle, particularly around halving events. Mikybull Crypto points to historical patterns of re-accumulation, citing the potential for a post-halving rally reminiscent of previous cycles. Key to this outlook is Bitcoin's ability to clear bid liquidity around the $57,000 mark, which could serve as a catalyst for renewed upward momentum. However, market observers remain cautious amid signs of volatility, with some noting sensitivity to spot movements and the possibility of broader market retracements. Despite short-term uncertainties, Mikybull Crypto emphasises Bitcoin's solid macro outlook, suggesting that the current cycle's peak is still distant, in line with previous halving cycles' trajectories.