Crypto Market Price Analysis Today: Bitcoin (BTC), Theta Network (THETA), SSV Network (SSV), HIVE, Popcat

Bitcoin struggled to maintain its recovery last week, indicating that bearish sentiment persists as traders use rallies to sell. Bitcoin ended the last week with a loss exceeding 4%. The longer the price remains near $60,000, the higher the chance of a downward breakdown.

Despite this, analysts are bullish on Bitcoin’s price action in the post-halving cycle. Even with the sideways movement, some traditional finance companies are incorporating Bitcoin into their portfolios. JPMorgan Chase and Wells Fargo disclosed exposure to spot Bitcoin exchange-traded funds in their May 10 filing with the United States Securities and Exchange Commission. Although their Bitcoin allocation is small, it represents a positive step. In a recent interview with journalist Mike Solana, Twitter co-founder Jack Dorsey predicted that Bitcoin could surge to at least $1 million by 2030 and potentially go even higher.

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