Could Bitcoin Slip to $60K? IF Bull Fails To Overcome $66K, Update On Altcoin
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The cryptocurrency market cap has dropped below $2.3 trillion, marking a 4.7% decline and leading to a significant increase in liquidations. According to Coinglass data, total liquidations have risen by 92.5% in the past 24 hours, reaching $304 million. A majority of these liquidations, nearly 89% or $279.7 million, came from long positions influenced by the market's downturn.
Bitcoin's price has been under notable pressure amid this market shakeout. Analysts are emphasizing that if the Bitcoin bulls cannot overcome the critical resistance level of $66K, there could be a possibility of the price slipping down to $60K. This has placed the future trajectory of Bitcoin in a crucial period of uncertainty.
Altcoins have also faced significant pressure due to negative funding rates and broader market complacency. The recent downturn has affected a broad spectrum of cryptocurrencies, causing concerns among investors about the potential impacts on the altcoin market.
Fuente: coinpedia.org ↗
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