Bitcoin (BTC) saw a widely expected decline on October 13th as the bulls struggled with February’s all-time high.

Analysts unimpressed by the fall in BTC prices

Data from Cointelegraph Markets Pro and TradingView show that BTC / USD on Bitstamp soon reversed from a five-month high to below $ 54,000.

After the pair rebounded to around $ 55,000, the pair looks volatile on Wednesday with no clear direction in the short term.

For analysts, however, there are few surprises with these steps. $ 58,000 has been tipped as resistance that is unlikely to be breached all at once, while an opportunity to “buy” at $ 53,000 and below is also in sight for many.

“I’m not worried about this drop in BTC at all,” says trader and analyst Rekt Capital summary.

He Add that such consolidation and retesting could be a must for Bitcoin to consolidate new support and continue to hit all-time highs and beyond.

A similar view is taken by popular trader Pentoshi, who has suggested that higher lows could be due to a retracement that Bitcoins could be the last before an attack on higher levels.

“Delete expires when 48k are lost,” he said conclude in Twitter comments on Tuesday.

Lack of excitement is a “pleasant surprise”

As Cointelegraph reported, Bitcoin has held something low despite being within 15% of its all-time high.

Related: Do You Need Some ‘Hopium?’ Bitcoin This chart claims a new all-time high BTC price in November

Google Trends data shows a lack of interest in Bitcoin’s highs in the fourth quarter compared to the start of the year.

Despite signs of greed, sentiment has not yet reached the extremes that traditionally shaped macroeconomic and local prices.

Charles Edwards, founder of wealth management firm Capriole, responded this week: “Surprised by the lack of excitement as we neared $ 60,000 in Bitcoin.

“Just like in October 2020.”