Bitcoin (BTC) dipped to lows near $60,000 on Friday, losing early momentum that had bulls hovering above $63,450. But while this offered yet another “buy the dip” opportunity, traders haven’t rushed in to buy.
Analysts at market intelligence platform Santiment are pointing to crowd behavior as an indicator that the bottom is close.
As the market positions for what’s next, attention has firmly remained on crypto’s new top Telegram bot Bitbot (BITBOT). With over $3.2 million already raised in presale, the hype around this project is real.
Bitcoin’s struggle and lack of enthusiasm in “buy the dip”
Bitcoin tanked nearly 2% in 24 hours to trade near lows of $60k on Friday. But unlike in previous dips in the past two months, interest in buying the dip was “very weak” on May 10. Traders capitalized on the overall declines for BTC on March 5 and again on May 1, with unsuccessful bids on April 13.
Commenting on today’s scenario, Santiment wrote on X:
“Traders are showing weak buy the dip interest in Bitcoin's latest retrace down to as low as $60.2K today. Generally, the crowd's lack of faith is a strong sign of prices being close to a bottom. Track social interest levels to see if FUD stays high.”
Amid this bull-bear tussle is the long-term bullishness on Bitcoin price following its recent halving and the spot BTC ETFs.
Analysts at Standard Chartered maintain a bullish prediction for BTC in 2024 and 2025, while Jack Dorsey recently predicted the benchmark crypto could be priced at $1 million by 2030.
Bitbot aims for top spot amid presale success
Bitbot is a project that could dominate the market. As the countdown continues, the Telegram bot market is expanding at a rapid pace, with solutions such as Banana Gun and PAAL AI getting great traction.
However, Bitbot’s strength and potential to revolutionize the space may be due to its offering of the world’s first non-custodial trading bot on Telegram. Crypto traders who want to have full control of their wallets but still tap into the potential of an AI-powered trading bot are flocking to Bitbot.
Look at this example of how Bitbot can be a great tool for traders.
When it debuts in the market, Bitbot will dump most bots with custodial solutions out of the market.
What’s the outlook for Bitbot?
One of the key factors to note about Bitbot is that the project is committed to users’ security, while providing access to all the institutional-grade tools that retail traders can leverage when trading. In this case, traders are confident in the project’s future.
The native token BITBOT also offers access to exclusive discounts and other perks, including a share of bot revenue. Bitbot’s 50% revenue share and 30% referral rewards are the highest among Telegram trading bots.
Early adopters from stage 1 have seen the presale price rise from $0.005 to $0.018 in the current stage. In the next two rounds, the value will increase to $0.0189 and then $0.020.
At the moment, anticipation for when the bot launches continues to build. So far, the presale has reached stage 13 of the planned 15 stages, raising more than $3.2 million.
Get more details about Bitbot on the official website.
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