Bitcoin Rebound Stalls at Crucial 61.8% Fibonacci Level

The cryptocurrency market capitalization has remained steady at $2.26 trillion since Tuesday's close, but investors are awaiting fresh signals as the recovery rally nears a key Fibonacci level.

Bitcoin has pulled back to $65.5K, and while the price action fits a relatively positive scenario, the rapid loss of momentum is noteworthy.

According to experts, Bitcoin's recurring cycles of boom and bust are normal phenomena that shouldn't undermine investors' confidence in its long-term growth potential.

Bitwise CEO Brian Armstrong said that for long-term investors, the exact entry point isn't decisive if the asset is expected to rise to $100K or higher.