Bitcoin Price Drops Below $60,000: Key Reason Explained
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Bitcoin's price dropped to $59,604, marking a 4% decline, influenced by the CME gap phenomenon. The gap occurs due to differing trading hours of the CME Bitcoin futures and spot markets. Analysts like Daan Crypto Trades and Titan of Crypto suggest the gap closure might lead to bullish trends. Others emphasize potential risks and critical support levels, noting that maintaining above $60k is vital. Alpha dōjō analysts highlight the importance of watching support around $60,000 and potential resistance at $64,000. At press time, Bitcoin traded at $60,388.
Source: www.newsbtc.com ↗
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