Bitcoin (BTC) $66,354 begins the first week of its new halving epoch in fighting form as bulls inch closer toward $70,000.

BTC price action is potentially finding its feet again after a successful halving begins the latest chapter, or epoch, in Bitcoin’s history.

After a week of volatility and breakdowns to six-week lows, Bitcoin has certainly tested traders’ resolve — has the market put the worst behind it?

Analysts are toying with some familiar forces. Halvings tend to see BTC price downside before a dramatic recovery, but this tends to play out over many months, not days or weeks.

This cycle, however, has been one of many firsts — notably a new all-time high for BTC/USD before the halving event itself takes place.

Anything could thus be possible in 2024 as miners adjust to the new reality and Bitcoin continues to navigate a fragile geopolitical and macroeconomic landscape.

Source; Cointelegraph