Bitcoin has started the week on a sour note, falling to one-month lows after a challenging week that saw its price drop by nearly 5%. The largest cryptocurrency is currently trading at $66,165, a far cry from its recent highs of $70,000. Despite the gloomy outlook, analysts and traders are optimistic that the price will rebound, citing the upcoming release of United States jobless claims data and the cooling of Bitcoin network fundamentals.

The recent price drop has been attributed to a combination of factors, including macroeconomic data and associated Federal Reserve commentary. However, with fewer macro triggers expected this week, the market is likely to experience a period of calm. Employment figures may still surprise, and the U.S. inflation picture is delivering mixed signals to risk assets. As a result, many traders are adopting a wait-and-see approach, waiting for the range to shift before making any moves.

Despite the current downturn, many analysts are bullish on Bitcoin's prospects. They point to the fact that the cryptocurrency has maintained its support at $66,000, a critical level that has been holding steady. They also note that the Bitcoin network fundamentals are cooling, with mining difficulty set to drop by around 1.3% this week. This, combined with the fact that miners are adjusting to the new post-halving reality, suggests that the market is due for a rebound.

In conclusion, Bitcoin's price may be experiencing a downturn, but analysts and traders are optimistic that it will rebound in the coming weeks. With the upcoming release of employment figures and the cooling of Bitcoin network fundamentals, the market is likely to experience a period of calm before the next move. As always, it's important to do your own research and consider your own risk tolerance before making any investment decisions.