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A buy-the-dip strategy could be valid if Bitcoin falls further, Russell Thompson, chief investment officer at digital asset investment firm Hilbert Group, said in an interview with Crypto Briefing.
Thompson said the $80,000-$81,000 range could serve as first support from a technical perspective, while a trendline around $77,000 could act as second support. He added that Bitcoin would need to break above $87,000, the top of its recent range, to confirm a clear bullish reversal. If it closes above that range ceiling on a daily basis, BTC could rise to $93,000-$97,000, Thompson said. He also said spot ETF outflows, rising oil prices amid conflict in the Middle East, and concerns over additional rate hikes by the Federal Reserve remain pressure factors for Bitcoin.