The recent analysis from Bitfinex Alpha reveals a key resistance level for Bitcoin at $63,000, amid prevailing market volatility. Bitcoin saw a steep decline of over 11% last week, falling from $66,587 to approximately $58,943.
This decline has been attributed to various market factors, including concerns surrounding the potential impact of Mt. Gox repayments on the market. As a result, traders and investors are adopting a cautious approach.
With Bitcoin struggling to break the $63,000 resistance level, the market sentiment remains on edge, reflecting uncertainty about the immediate future direction.
