Bitcoin has recently dipped from its high of $63,000 but remains above its previous low of $49,000, currently holding steady at $59,000-$60,000. The analyst from Crypto Banter's The Sniper Trading show suggests this pullback is temporary and indicates a consolidation phase, with potential for an upward squeeze. Key to watch are trend breaks, which will signal the direction of future movements.

Recent large Bitcoin withdrawals from exchanges, including 14,600 from Coinbase today and 56,000 over the past week, typically precede market rallies, suggesting long-term investors are holding their assets, reducing available supply.

In the altcoin market, Dogecoin, Thorchain, Cardano, and Casper have shown recent positive movement, with Immutable X and Optimism also recovering. The analyst highlights Optimism, NEAR Protocol, Solana, Thorchain, and Pendle as promising, with each showing signs of potential breakouts or good buying opportunities.