Now that Bitcoin has dropped below $60K, the bears are relatively strong on the 4-hour chart. This is because some people are still buying the dip, believing that $60K is a solid bottom. After BTC broke below $60K for the fourth time today, the bulls have also started to split—some whales are buying the dip, while others are exiting. The next target price is around $55K, where we might see a rebound. Looks like MicroStrategy is also working hard to sell off BTC today. If they don’t reduce their holdings, they might not survive the death spiral.