Bitcoin price could drop below $12,000 as bears gain technical advantage

Bitcoin price could drop below $12,000 as bears gain technical advantage

Bitcoin’s (BTC) push to exit the bear market suffered a blow after the crypto sector was hit with a high-profile liquidity crisis affecting the FTX exchange. Consequently, the flagship cryptocurrency has corrected almost to a two-year low, with bulls appearing helpless. 

In this line, Kitco News analysts Jim Wyckoff on November 9 suggested that bears have a technical advantage translating to a possible sustained Bitcoin price correction. 

According to Wyckoff, the FTX crisis has…


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