Bitcoin Correction Persists as Hype Tests Key Support

Bitcoin's short-term correction continued this week, with the price dipping to $62,268. Analysts are closely monitoring whether it can find support in the key $60,900-$61,500 zone.

The wave B correction has been ongoing since July 21 and has reached approximately 61.8% of wave A's rebound from the May 6 high of $82,850.

Meanwhile, HYPE is trading in the $50-$52 key support zone at the tail end of the daily-level wave C, with oversold signals having triggered repeatedly.